Mysteel Global: Feng Hsin Steel, Taiwan’s largest rebar producer, headquartered in Taichung in central Taiwan, has decided to roll over its rebar list prices and buying prices for local scrap again for transactions over March 17-21, according to a company official.
For the business negotiations till this Friday, Feng Hsin’s offering price of its 13mm dia rebar stays unchanged on week at TWD 18,500/tonne ($560/t) EXW, and it continues to pay TWD 9,500/t for local HMS 1&2 80:20 scrap, the same level since the start of this month, the official confirmed.
Prices of global scrap delivered to Taiwan have kept stable recently, persuading mini-mills on the island to hold their rebar list prices and procurement prices for scrap to wait and see, given the uncertainty in the local steel market, Mysteel Global learned.
As of March 17, the price of US-sourced HMS 1&2 80:20 scrap stood at $320/t CFR Taiwan, taking a pause from the continuous rise over the prior two weeks, and the price of Japan-origin H2 scrap also stayed unchanged on week at $325/t CFR Taiwan, according to a local market source.
Some Taiwanese mini-mills opted to use more billets to produce rebar recently given the competitive prices of the steel semis in the Chinese mainland, and their consumption of scrap decreased to some extent, Mysteel Global was told.
On March 17, the price of Tangshan Q235 150mm square billet in North China’s Hebei province was assessed by Mysteel at Yuan 3,040/t ($420/t) EXW and including the 13% VAT, still at a low level, though it had increased by Yuan 20/t from one week before.
Rebar prices in the Chinese mainland kept rangebound over the past week, aggravating the wait-and-see sentiment in Taiwan’s steel market. On Monday, the national price of HRB400E 20mm dia rebar, a pointer to China’s steel-market sentiment, was assessed by Mysteel at Yuan 3,373/t including the 13% VAT, dipping by Yuan 7/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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