Taiwan’s import scrap market has declined further this week with offers softening. Market sources report that rebar sales in Taiwan have recommenced this week, “but the quantity is limited as iron ore prices collapsed and due to scrap prices being weak.” In the current week, major Taiwanese steel producer Feng Hsin has reduced its rebar price by TWD 300/mt at TWD 19,100/mt ($604/mt) ex-works, with the price moving down by $11/mt on US dollar-basis amid exchange rate fluctuations.
Offers for ex-US HMS I/II (80:20) scrap in containers to Taiwan have moved down over the past week to $373-375/mt CFR, from $372-382/mt recorded last week. There have been deals done for ex-US containerized material at $368-370/mt CFR, meaning the actual price has remained stable.
Japanese scrap suppliers’ offers for H1/2 (50:50) scrap by bulk to Taiwan have moved to $380-385/mt CFR, decreasing from $380-391/mt CFR last week. A major Taiwanese producer concluded a deal for this material early this week at $378/mt CFR.
Domestic HMS I/II 80:20 scrap prices in Taiwan have also moved down this week by TWD 200/mt or $10/mt to TWD 11,800/mt ($373/mt) delivered to mill. Market sources state that the weakness of import scrap prices and the narrow gap between imports and domestic scrap prices has resulted in the decline in domestic prices.
$1 = TWD 31.61