For business till this Friday, the mini-mill's list price for 13mm dia rebar is unchanged on week at TWD 22,300/tonne ($800/t) EXW, taking a pause after the continuous increases over the prior three weeks which added a total of TWD 1,200/t to its sales prices. Feng Hsin's procurement price for local HMS 1&2 80:20 scrap also stays at TWD 12,800/t, the same level from one week earlier, according to the official.
As of February 21, the price of US-sourced HMS 1&2 80:20 scrap remained unchanged on week at $490/t CFR Taiwan after increasing by $50/t over the prior month, while the price of Japan-origin H2 scrap was also stable at $534/t CFR Taiwan, according to a local market source.
Feng Hsin's decision to maintain its rebar sales prices this week was mainly aimed at reflecting price trends in the global scrap market, though steel demand from local end-users had resumed after the Chinese New Year holiday ended on February 6, Mysteel Global was told.
"They (end-users) were very active in placing new orders last week, encouraging some local steel mills to take some restrictive measures on sales," the official said.
Taiwan's steel market had shrugged off the fall in China's steel and iron ore prices last week. As of February 18, China's national price of HRB400E 20mm dia rebar, for example, was assessed by Mysteel at Yuan 4,922/tonne ($777/t) including the 13% VAT, losing Yuan 110/t on week, while Mysteel SEADEX 62% Australian Fines slumped by $17.7/dmt during the same period to $132.5/dmt CFR Qingdao.
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