SteelMint learned in recent conversations with industry sources that Taiwan’s domestic scrap and rebar prices remained flat despite a slight increase in imported scrap prices this week. On the other hand, rebar sales reported to have stabilized amid substantial fall in demand from downstream construction sites on frequent rainfalls in the country.
The leading mini-mill Feng Hsin Iron & Steel has held its domestic steel scrap buying price unchanged as against the last week. As per updates, the company continues to pay TWD 9,000/MT (USD 290) for HMS 1&2 (80:20) scrap delivered to its headquarter in Taichung effective over the period 15th-19th Jul’19.
Notably prior to this, the company had increased scrap purchase and rebar prices by TWD 300/MT effective during the last week. However, demand seemed to have stabilized for this week.
Feng Hsin Steel keeps finish long prices stable – The steelmaker held finished long steel prices unchanged this week. Its listed rebar selling price for 12-32 mm dia size stands at TWD 16,200/MT (USD 522) ex-works flat on the week, delivered from Taichung mill in Taiwan.
According to prices maintained with SteelMint, the price margin between scrap and rebar remains unchanged at around TWD 7,200/MT (USD 231).
SteelMint’s assessment for containerized imported HMS 1&2 (80:20) of US origin stands at around USD 280-283/MT, CFR Taiwan, inching up further by USD 5-8/MT against the last week. In the last trade deal, containerized HMS 1&2 (80:20) reported having booked at USD 280/MT, CFR Taiwan.
Vietnamese scrap importers turn active for Japanese scrap – Despite stability observed last week in Japanese scrap prices, participants continued seeking more clarity on weather Japanese scrap prices have really reached short term bottom or not. Japanese H2 was being offered at USD 295-300/MT, CFR Vietnam while buying interest was reported around USD 290/MT, CFR levels. Hong Kong origin HMS 1&2 (50:50) was being negotiated in the range USD 295-297/MT, CFR, marginally down against the last week.
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