Taiwan: Feng Hsin Steel Raises Scrap Purchase Price by USD 9.5

SteelMint learned in recent conversations with industry sources that Taiwan's domestic scrap and rebar prices have observed strengthening following increased sales of finished steel at high prices.

The leading mini-mill Feng Hsin Iron & Steel has increased its domestic steel scrap buying price by TWD 300/MT (USD 9.5) as against the last week. As per updates, the company is paying TWD 9,000/MT (USD 289) for HMS 1&2 (80:20) scrap delivered to its headquarter in Taichung effective over the period 08th-12th Jul'19.

Prior to this, the company had rolled over scrap and rebar prices in the previous week. However, demand seemed to have stabilized for this week.

Feng Hsin Steel lifts finish long prices - The steelmaker also has lifted its finished steel prices effective from Monday. Its listed rebar selling price for 16-32 mm dia size stands at TWD 16,200/MT (USD 521) ex-works over 8th-12th July week, delivered from Taichung mill in Taiwan.

According to prices maintained with SteelMint, after successive lowering seen throughout June month, the company has observed first price upturn in both scrap and rebar prices, however, the price margin between scrap and rebar remains unchanged at around TWD 7,200/MT (USD 231)

SteelMint's assessment for containerized imported HMS 1&2 (80:20) of US origin stands at around USD 275/MT, CFR Taiwan, recovering by USD 5/MT against the last week.