Taiwan’s import scrap market has continued to move down in the current week. However, Taiwanese government is currently restricting truck weights on highways. “Container weight is limited to 20 tons or less. This restriction can stop US container offers from falling and perhaps we may see an increase,” a Taiwanese source reported. Demand in the local Taiwanese rebar market this week is still sluggish, market sources report, as buyers have just returned from the Mid-Autumn festival. “Also, the Chinese market is still fragile,” a Taiwanese source added. The main Taiwanese producer Feng Hsin has lowered its domestic rebar prices by TWD 400/mt or $14/mt to TWD 17,500/mt ($546/mt) ex-works.
While offers for ex-US HMS I/II (80:20) scrap in containers have declined by $5/mt over the past week to $315-322/mt CFR. Taiwanese producers have concluded deals at $310-313/mt CFR this week, $5-7/mt lower week on week. As prices continue to drop to Taiwan, the new levels are becoming the lowest price levels recorded for this grade since the end of 2020.
Offers for Japanese H1/2 (50:50) scrap bulk have declined from the $329-340/mt CFR range to $319-327/mt CFR. Taiwanese mills still show little appetite for Japanese scrap.
Feng Hsin has kept its scrap purchase price stable at TWD 9,900/mt ($309/mt) delivered, down $1/mt on US dollar basis due to the change in the exchange rate.
$1 = TWD 32.02