Taiwan’s import scrap market has continued to move down further this week, with offers softening amid the weakening of iron ore and scrap prices globally. In the current week, major Taiwanese steel producer Feng Hsin’s rebar prices have remained stable at TWD 19,100/mt ($604/mt) ex-works, SteelOrbis has learned that the producer is waiting for next week to become active in the market. Some other Taiwanese producers have concluded limited rebar deals at TWD 18,500-18,600/mt ($585-588/mt) ex-works.
Offers for ex-US HMS I/II (80:20) scrap in containers to Taiwan were at $375/mt early this week but have declined to $363/mt CFR by the end of the week, indicating a $10-12/mt drop week on week. There are deals done for ex-US containerized material at $360/mt CFR, $362/mt CFR and $363/mt CFR, with the actual price declining by $7-10/mt.
Japanese scrap suppliers’ offers for H1/2 (50:50) scrap by bulk to Taiwan have moved down by $5/mt on the upper end to $380/mt CFR over the past week. No new deals have been heard this week for Japanese material at this level.
Domestic HMS I/II 80:20 scrap prices in Taiwan have also moved down this week, by TWD 200/mt or $6/mt to TWD 11,600/mt ($367/mt) delivered to mill.
$1 = TWD 31.63