Taiwan’s import scrap market has moved downwards over the past week with market players still monitoring the international scrap market’s reaction to the US presidential elections and the announcement due to be made after the meeting of China’s National People’s Congress. Meanwhile, the Kanto export tender will be held next week for Japanese scrap. The major Taiwanese producer Feng Hsin has kept its domestic rebar prices at TWD 18,200/mt ($567/mt) ex-works, with the dollar-based prices decreasing by $3/mt week on week.
Offers for ex-US HMS I/II (80:20) scrap in containers have declined from the range of $320-332/mt CFR to $322-325/mt CFR. Some Taiwanese producers have concluded bookings for this grade at $318-319/mt CFR this week, $1-2/mt lower week on week.
The offer range for Japanese H1/2 (50:50) scrap bulk has widened over the past week and is now at $328-343/mt CFR from last week’s $330-332/mt CFR. Market sources report that the majority of the offers stand at around $333/mt CFR. No deal from Japan has been concluded this week, market sources report, as ships are difficult to book and there is a congestion of ships in southern Taiwan.
Feng Hsin has kept its scrap purchase price at TWD 10,200/mt ($318/mt) delivered, down by $1/mt amid the changes observed in the exchange rate. Market players report that import and domestic prices of scrap are balanced, with the gap between the prices being reasonable.
$1= TWD 32.10