Posted on 31 Oct 2024
The Taiwanese import market for US-origin container scrap has been muted in the past week, Kallanish notes.
Buying interest was sparse and few deals transpired, trading sources in Taiwan say. Most add they have not heard of any recent deals taking place.
“I couldn't sell any scrap this week. The mills are not selling rebar so they are not in a hurry to cover scrap requirements,” a Taipei trader notes. The main mills have not been bidding for the past few days, another Taiwanese trader says.
He and others see offers at around $320/tonne, plus or minus. While it has been quiet, some other sources hear very limited deals were concluded at $320/t cfr or slightly lower. Kallanish assessed HMS 1&2 80:20 US-origin container scrap at $319-320/t cfr Taiwan, down $8 from last week.
Meanwhile, leading Taiwanese steel mill Feng Hsin Iron & Steel (FH) announced on Monday that it would maintain its domestic scrap and rebar prices. The mill’s purchase price for HSM 1 grade scrap is unchanged at TWD 9,400/t ($294/t). FH's rebar list price for #5 (5/8 inches or 15.875mm nominal diameter base) and bigger sizes is officially listed at TWD 18,800/t.
Source:Kallanish
