SteelMint learned from sources that Taiwan’s domestic scrap and rebar prices have remained flat for the fourth consecutive week amid weak domestic finish steel demand. Steelmakers were interested in balancing their supply-demand on depressed rebar demand in construction activities despite a slight rise in imported scrap offers witnessed during the last week.
The leading mini-mill Feng Hsin Iron & Steel has kept its domestic steel scrap buying price unchanged since almost a months period. As per updates, the company will continue to pay TWD 9,000/MT (USD 286) for HMS 1&2 (80:20) scrap delivered to its headquarter in Taichung effective over the period 5th Aug-09th 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 514) ex-works delivered from Taichung mill in Taiwan.
SteelMint’s assessment for containerized imported HMS 1&2 (80:20) of US origin remained rangebound around USD 283-285/MT, CFR Taiwan. Notably, Taiwan New Dollar has depreciated to around 2 years low recently against USD. USD/TWD rate stands at 31.7 levels against 31 levels last week.
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