- List price of 13mm rebar at TWD 16,700/t exw ($572/t)
- Mills cautious amid weak demand, market uncertainty
Mysteel Global: Feng Hsin Steel, Taiwan’s largest rebar producer, has decided to roll over its rebar list prices and buying prices of local scrap again for transactions over June 23-27, according to a company official.
For business discussions till this Friday, Feng Hsin’s list price of 13mm dia rebar stands at TWD 16,700/tonne (t) ($572/t) EXW for the third week, and the mini-mill continues to pay TWD 8,200/t ($279/t) for local HMS 80:20 scrap, the same level since 9 June, the official confirmed.
The company would like to hold the two prices this week to monitor market changes in the coming week after noting the overall stable prices of global scrap delivered to Taiwan, Mysteel Global noted.
As of 23 June, the price of US-sourced HMS 80:20 scrap was reported at $295/t CFR Taiwan, halting a two-week decline, while the price of Japan-origin H2 scrap edged down by another $2/t on week to reach $313/t CFR Taiwan, according to a local market source.
Besides, Feng Hsin made this decision to stabilize market confidence and facilitate sales, as its rebar sales in the physical market remained dull over the past week, and many downstream contractors were inactive in placing new orders amid the prevailing wait-and-see sentiment, Mysteel was told.
Prices of rebar in the Chinese mainland hovered low recently with tepid demand from end-users during the summer off-season as high temperatures and frequent rainfall disrupted construction activity across many regions of the country.
As of 23 June, the national price of HRB400E 20mm dia rebar, a bellwether of domestic steel-market sentiment, came in at RMB 3,215/t ($448/t) including the 13% VAT, slipping by RMB 15/t ($2/t) from one week before, according to Mysteel’s assessment.
Note:This article has been written in accordance with a content exchange agreement between Mysteel Global and BigMint.
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