In recent conversations with industry sources, SteelMint learned that Taiwan’s domestic scrap and rebar prices increased this week following jump in global scrap prices last week.
The leading mini-mill Feng Hsin Iron & Steel has raised its domestic steel scrap buying price observing a total hike by Taiwan Dollar 500/MT (USD 16) against the last weeks’ report.
After the recent price hike, Feng Hsin is paying TWD 9,300/MT (USD 294) for HMS 1&2 (80:20) scrap delivered to its Taichung mill, up TWD 500/MT against TWD 8,800/MT (USD 278). This is company’s 2nd scrap price hike since last Monday.
SteelMint’s reference price for containerized imported HMS 1&2 (80:20) of US origin stands at around USD 285/MT, CFR Taiwan.
Feng Hsin Steel raises finish long price – In line with rising domestic scrap purchase prices, the steelmaker has also hiked finished steel prices effective from Monday. Its listed rebar selling price for 16-32 mm dia size stands at TWD 16,500/MT (USD 522) ex-works over 27-31st May week, delivered from Taichung mill in Taiwan.
Notably, the steelmaker has witnessed a rise in scrap and rebar prices after scrap prices hit three-month bottom closing last month. Scrap prices had remained flat for almost 3 weeks since closing April.
Taiwan ferrous scrap imports & rebar exports – The country imported 281,782 MT ferrous scrap in Mar’19 as against 142,778 MT recorded in Feb’19, witnessing a sharp growth of 97% M-o-M, on the other hand, finish long exports remained stable for the second consecutive month and recorded at 62,499 MT in Mar’19.
Leave a Reply