Taiwan is still focusing on ex-US scrap imports and no ex-Japan deal has been booked over the past week. The local rebar market in Taiwan is mostly silent, though market sources report that there is a mill which is an exception due to its “super low price in an actual deal at TWD 18,600/mt ($594/mt) ex-works.” This domestic deal has reportedly disrupted the market. In the current week, major Taiwanese producer Feng Hsin has increased its rebar prices by TWD 200/mt to TWD 19,300/mt ($617/mt) ex-works, while prices have moved up by $8/mt on dollar basis amid exchange rate fluctuations. The difference between the two producers’ prices is $23/mt.
Offers for ex-US HMS I/II (80:20) scrap in containers to Taiwan have remained stable week on week at $375-385/mt. A producer booked deals for this grade at $380/mt CFR earlier this week, while others have closed deals at $380-382/mt CFR. Therefore, ex-US scrap prices in Taiwan have increased by $5/mt on the lower end and by $2/mt on the upper end. However, a Taiwanese source has said that ex-US offers are mostly around $380/mt CFR at the end of the week, noting, “Today, January 26, a deal can be closed at $375/mt CFR.”
Japanese scrap suppliers’ offers for H1/2 (50:50) scrap by bulk to Taiwan have moved to $390-407/mt CFR, indicating a $4/mt decline on the upper end over the past week. No deal in this range has been done this week.
Domestic HMS I/II 80:20 scrap prices in Taiwan have moved upwards by TWD 200/mt over the past week to TWD 12,000/mt ($384/mt) delivered to mill, rising by $8/mt on US dollar basis.
$1 = TWD 31.29