Taiwan’s import scrap market remained stable over the past week, while rebar market is not showing much trading due to “bad rainy weather”, market sources report. Without the proper demand for rebar, there was no support for higher scrap prices. In the current week, major Taiwanese producer Feng Hsin has kept its domestic rebar prices stable at TWD 18,500/mt ($571/mt) ex-works, dollar-based prices decreased by $2/mt over the past week due to the currency fluctuations.
Offers for ex-US HMS I/II (80:20) scrap in containers have indicated small changes and are now at $345-350/mt CFR instead of the $342-348/mt CFR range recorded late last week. There are deals closed at around $340-345/mt CFR. As a result, actual price has also dropped by $2/mt on the lower end.
Ex-Japan offers for H1/2 (50:50) scrap by bulk to Taiwan have also changed slightly from $358-366/mt CFR recorded last week to $355-366/mt CFR. No bookings from Japan in Taiwan have been heard this week. Market sources report that there is a congestion at Kaohsiung port and bids for Japanese scrap were lower than offers.
Domestic HMS I/II 80:20 scrap prices in Taiwan have remained stable at TWD 11,100/mt ($343/mt with $1/mt decline) delivered to mill.
$1 = TWD 32.38