- Rebar demand from end-users remains dull
- Taiwanese mills hold scrap buy prices steady
Mysteel Global: Feng Hsin Steel, Taiwan’s largest rebar producer, has decided to cut its rebar list prices by TWD 200/tonne (t) ($7/t) for business discussions over 2-6 June, while its procurement prices for local scrap remain unchanged for this week, according to a company official.
With the latest adjustment, the mini-mill is offering its 13mm dia rebar at TWD 17,200/t ($574/t) EXW for business negotiations till this Friday, while its procurement price for local HMS 80:20 scrap stays at TWD 8,600/t ($287/t), the official confirmed.
Rebar demand from local end-users remained dull last week, persuading Taiwan’s mini-mills to concede a little from their list prices to facilitate sales.
However, mini-mills on the island are intent on holding their buying prices for local scrap to monitor the market changes this week, given their higher production costs from the firming prices of global scrap delivered to Taiwan, Mysteel Global learned.
As of 2 June, the price of US-sourced HMS 80:20 scrap was reported at $303/t CFR Taiwan, up for the third week by $3/t on week, while the price of Japan-origin H2 scrap stayed at $318/t CFR Taiwan, taking a pause after the continuous growth over the prior two weeks, a market source based in Taiwan said.
Rebar prices in the Chinese mainland have lost ground overall recently with the thinning demand, which also aggravated the negative sentiment in Taiwan’s steel market, Mysteel Global noted.
As of 30 May, the last working day before China’s public holiday over 31 May-2 June for the Dragon Boat Festival, the national price of HRB400E 20mm dia rebar, a bellwether of domestic steel-market sentiment, was assessed by Mysteel at RMB 3,230/t ($449/t) including the 13% VAT, lower by RMB 58/t ($8/t) on week.
Note: This article has been written in accordance with a content exchange agreement between Mysteel Global and BigMint.
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