Taiwan’s import scrap market has remained stable again this week. However, the number of offers has been lower than usual. All players are waiting to see the result of the Kanto tender in Japan. Meanwhile, the Taiwanese rebar market is silent. In the current week, major Taiwanese producer Feng Hsin has kept its domestic rebar prices stable at TWD 18,500/mt ($570/mt) ex-works, while its dollar-based prices have remained stable.
Offers for ex-US HMS I/II (80:20) scrap in containers have moved down by $7-11/mt week on week and are now at $343-348/mt CFR. There are deals closed at around $343-349/mt CFR. As a result, the actual price has increased by $3-4/mt. Taiwanese producers are reporting that a large number of traders took a step back this week and did not share scrap offers.
Earlier this week, ex-Japan offers for H1/2 (50:50) scrap by bulk to Taiwan were relatively stable at $356-362/mt CFR as compared to $353-365/mt CFR late last week. Taiwanese mills have not concluded any ex-Japan bookings this week either. Market sources report that Japanese sellers are expecting higher prices in the Kanto tender due to the depreciation of the Japanese yen.
Domestic HMS I/II 80:20 scrap prices in Taiwan have remained stable in the local currency at TWD 11,100/mt ($342/mt) delivered to mill, while the dollar-based prices have moved sideways.
$1 = TWD 32.43