SteelMint learned in recent conversations with industry sources that Taiwan’s domestic scrap and rebar prices remained flat this week following limited demand observed for both scrap and finish steel in the global market last week.
The leading mini-mill Feng Hsin Iron & Steel has decided to roll over its domestic steel scrap buying price after observing two successive hikes in the previous two weeks. The company is paying TWD 9,500/MT (USD 302) for HMS 1&2 (80:20) scrap delivered to its Taichung mill which stands flat against the last week.
Notably, domestic scrap prices in Taiwan have been moved up by total TWD 700/MT (USD 22) on monthly premises.
SteelMint’s assessment for containerized imported HMS 1&2 (80:20) of US origin stands at around USD 288-290/MT, CFR Taiwan, lowering marginally by USD 3-5/MT against the last week on weakening global ferrous scrap prices. Most of the steelmakers were waiting for more clarity on the Turkish imported scrap price which drives the global trend.
Feng Hsin Steel rolls over finish long price – The steelmaker also has rolled over finished steel prices effective from Monday. Its listed rebar selling price for 16-32 mm dia size stands at TWD 16,700/MT (USD 531) ex-works over 10th-14th June week, delivered from Taichung mill in Taiwan.
However, the price margin between scrap and rebar remains unchanged at TWD 7,200/MT (USD 229) since almost a months’ time.
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