Taiwan: Feng Hsin Steel Rolls Over Domestic Scrap Price for 5th Successive Week

SteelMint learned from sources that Taiwan's domestic scrap and rebar prices have remained flat for the fifth consecutive week amid limited domestic finish steel demand. Steelmakers anticipate imported scrap prices to remain under pressure on weak sentiments globally amid ongoing Eid holidays keeping domestic scrap & rebar prices unchanged in Taiwan.

The leading mini-mill Feng Hsin Iron & Steel has kept its domestic steel scrap buying price unchanged since 8th Jul'19. As per updates, the company continues to pay TWD 9,000/MT (USD 286) for HMS 1&2 (80:20) scrap delivered to its headquarter in Taichung effective over the period 12th Aug-16th Aug'19.

The steelmaker also held its listed finished long steel prices unchanged for yet another week. It is selling rebar of 12-32 mm dia size at TWD 16,200/MT (USD 514) ex-works delivered from Taichung mill in Taiwan.

Taiwan imported scrap offers down USD 5/MT W-o-W - SteelMint's assessment for containerized imported HMS 1&2 (80:20) of US origin moved down USD 5/MT on weekly basis and stood at USD 275-280/MT, CFR Taiwan. Very limited offers from Japan were reported amid bon festival being celebrated over this week.