SteelMint learned from sources that the slowness in the global scrap market and lull in the finished long steel demand has held domestic sentiments flat in Taiwan. Domestic scrap and rebar prices showed stability since the last straight three weeks as no significant improvement has seen in finished steel sales. This brings few steelmakers under pressure as they look for improving sales by offering discounts on the listed prices.
The leading mini-mill Feng Hsin Iron & Steel has kept its domestic steel scrap buying price unchanged since the last three weeks from 8th Jul’19. As per updates, the company will continue 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 29th Jul-02nd Aug’19.
The steelmaker also held its listed finished long steel prices unchanged for yet another week. It is selling rebar of 12-32 mm dia size at TWD 16,200/MT (USD 521) ex-works delivered from Taichung mill in Taiwan.
SteelMint’s assessment for containerized imported HMS 1&2 (80:20) of US origin stood flat at around USD 280-282/MT, CFR Taiwan against the similar levels last week.
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