Ex-US scrap offer prices have fallen in Taiwan, but ex-Japan scrap quotations shared with Taiwanese mills have moved up due to currency changes. Trading in the Taiwanese rebar market is “sluggish again due to extremely low billet prices and the pessimistic mood caused by the Chinese market,” a source at a Taiwanese producer stated. The main Taiwanese producer Feng Hsin has lowered its domestic rebar prices this week by TWD 400/mt or $6/mt to TWD 18,300/mt ($565/mt) ex-works.
Offers for ex-US HMS I/II (80:20) scrap in containers have declined to $345-350/mt CFR, from $349-362/mt CFR recorded last week. At the same time, a few deals have been done at $344-346/mt CFR, declining by $3-4/mt week on week.
Japanese suppliers of H1/2 (50:50) scrap by bulk to Taiwan have increased to $365-370/mt CFR, versus $359-372/mt CFR last week. The rise in prices is considered the result of the stronger Japanese yen, but no deal in this range has been recorded.
Feng Hsin has cut its procurement scrap price by TWD 300/mt or $5/mt to TWD 10,800/mt ($334/mt) delivered as “import billet prices have fallen very drastically,” the mill stated.