WASHINGTON (Scrap Monster) : The lower scrap prices in Taiwan and the upcoming Christmas vacation has resulted in slowdown in scrap trade between the US and Taiwan. The US scrap suppliers are seen intentionally delaying export quotes to Taiwan. The Taiwanese importers are not agreeing to the higher price quotes by US sellers. At the same time, the US suppliers are unwilling to sell at lower prices.

 

Most US sellers have not given official quotes, but the trade believes that most of the suppliers are offering US$375/ton CFR Taiwan for container HMS 80:20 (1 & 2). A few sellers insist a selling price of even US$380/ton CFR Taiwan. The Taiwanese buyers were seen quoting US$370/ton CFR, but US sellers preferred delaying the quotes instead of selling at lower price.

 

The new scrap purchasing price of US$375/ton will lift the rebar base cost to US$17,700/ton, significantly higher when compared with the existing rebar market price.

 

The actual transaction prices last week were in the range US$368~US$370/ton CFR Taiwan.