Taiwan: Feng Hsin Steel Rolls Over Scrap Purchase Price
SteelMint learned in recent reports that the uncertainty in global scrap prices and slowing down of finished steel demand in the domestic market has turned sentiments mixed in Taiwan this week.
No significant improvement in finished steel demand amid seasonal issues and competitive Japanese scrap prices pulled scrap importers back from active buying. While domestic scrap and rebar prices showed stability more than the last half month’s period.
The leading mini-mill Feng Hsin Iron & Steel has kept its domestic steel scrap buying price unchanged since the last price hike witnessed on 8th Jul’19. As per updates, the company will continue to pay TWD 9,000/MT (USD 290) for HMS 1&2 (80:20) scrap delivered to its headquarter in Taichung effective over the period 22nd-26th Jul’19.
Feng Hsin steel keeps finish long prices stable - The steelmaker 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 521) ex-works delivered from Taichung mill in Taiwan.
SteelMint’s assessment for containerized imported HMS 1&2 (80:20) of US origin remained rangebound at around USD 282-285/MT, CFR Taiwan against USD 280-283/MT levels the last week.
Taiwan's ferrous scrap imports recorded at 1.16 MnT in the first five months of CY19, down 12% Y-o-Y against 1.32 MnT recorded during the same period last year. While during Jan-May'19, crude steel production stood at 9.83 MnT, up 7% Y-o-Y against 9.15 MnT in Jan-May'18.
source: SteelMint
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