Import scrap prices and offers in Taiwan are still weak. Despite sellers’ previous attempts to increase offer prices, import scrap deal prices are moving down. Taiwan has been buying Russian billet at relatively low prices over the past weeks, after sizable bookings of Chinese billet at even lower levels in early April. SteelOrbis hears that Russian billet for July shipment is not sold out and that offers are at $505/mt CFR, up by $5/mt from the previous deal.Due to weak import scrap price contributing this situation on the billet side, domestic rebar market in Taiwan has been silent this week. In the current week, major Taiwanese producer Feng Hsin has increased its rebar prices by TWD 200/mt to TWD 19,100/mt ($587/mt) ex-works.
Offers for ex-US HMS I/II (80:20) scrap in containers have remained limited in Taiwan, with offer prices standing at $368-372/mt CFR, moving up by $4-6/mt week on week. Deals have been closed at around $360/mt CFR.
Ex-Japan offers for H1/2 (50:50) scrap by bulk to Taiwan have moved down from $372/mt CFR recorded late last week to $368-372/mt CFR. This week, one major Taiwanese mill closed a booking for ex-Japan H1/2 (50:50) at $368/mt CFR. Other producers signed deals at $367-370/mt CFR.
Domestic HMS I/II 80:20 scrap prices in Taiwan have moved up this week by another TWD 200/mt to TWD 11,700/mt ($360/mt) delivered to mill.
$1= TWD 32.53