Taiwan’s import scrap prices have moved up slightly over the past week, while Taiwan is back in the market for Japanese scrap. While rebar demand in Taiwan has remained on the low side this week, domestic rebar prices have remained stable. Major Taiwanese producer Feng Hsin has kept its rebar price at TWD 19,100/mt ($613/mt) ex-works, with prices down by $3/mt on dollar-basis amid exchange rate fluctuations.
Offers for ex-US HMS I/II (80:20) scrap in containers to Taiwan are now at $377-387/mt, from $375-381/mt CFR recorded last week. A producer booked deals for this grade at $375/mt CFR, while others have closed deals at $378-380/mt CFR. As a result, ex-US scrap prices to Taiwan have increased by $2-5/mt week on week.
Japanese scrap suppliers are sharing offers for H1/2 (50:50) scrap by bulk to Taiwan, with offer prices widening to $383-400/mt CFR, from $389-390/mt CFR last week. The depreciation of the Japanese yen against the US dollar has caused this change. Also, a deal done by a Taiwanese steel producer for Japanese scrap was closed at $380/mt CFR.
Domestic HMS I/II 80:20 scrap prices in Taiwan have moved sideways over the past week at TWD 11,800/mt ($379/mt) delivered to mill, moving down by $2/mt.
$1 = TWD 31.13