- US HMS 80:20 rises to $333/t CFR Taiwan
- Scrap buy price reaches 11-month high
Mysteel Global: Feng Hsin Steel, Taiwan’s largest rebar producer headquartered in Taichung in central Taiwan, has decided to lift its rebar list prices and buying prices of local scrap further for transactions over 16 March-20 March in response to higher global scrap prices and improved rebar demand from local end-users, according to a company official.
With the latest price adjustment, the Taiwanese mini-mill is offering its 13mm-diameter rebar at TWD 18,000/tonne (t) ($565/t) EXW for business negotiations till this Friday, increasing by TWD 500/t ($16/t) on week and marking the highest since mid-April 2025, while its buying price for local HMS 80:20 scrap also touches an 11-month high of TWD 9,200/t ($289/t) after an on-week growth of TWD 200/t ($6/t), the official confirmed.
One major driver behind Feng Hsin’s continuous price hikes was the increased prices of global scrap cargoes delivered to Taiwan, which persuaded mini-mills on the island to lift their buying prices of local scrap to encourage delivery. Mysteel Global noted.
As of 16 March, the price of US-sourced HMS 80:20 scrap came in at $333/t CFR Taiwan, up by $5/t on week and recording the highest since late August 2024, while that of Japan-origin H2 scrap was reported at $348/t, seeing a significant rise of $10/t on week, according to a market source in Taiwan.
The Feng Hsin official said that rebar demand from end-users in Taiwan has improved to some extent compared with that for the fourth quarter of last year, though it remains insufficiently strong.
As for the Chinese mainland, rebar prices strengthened recently thanks to the cost support with the higher prices of imported iron ore, even though the recovery of construction steel transactions in the physical market was slower than expected.
On 16 March, China’s national price of HRB400E 20mm rebar-an indicator of domestic steel-market sentiment- was assessed by Mysteel at RMB 3,338/t ($486/t) including 13% VAT, rising by RMB 14/t ($2/t) from one week ago.
On the same day, Mysteel SEADEX 62% Australian Fines registered $110/dt CFR Qingdao, higher by $5/dt on week.
Note: This article has been written in accordance with a content exchange agreement between Mysteel Global and BigMint.
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