Taiwanese steelmakers have decided to adjust purchase prices for scrap downwards in early October in view of a persistentfall in prices for rebar. Besides, the current stock levels are allowing the steelmakers to hold off from purchases and, havingwaited for some time, to buy local scrap at more attractive prices as the downward trend is likely to remain in the rawmaterials market. Currently, local scrap collectors are offering HMS 1&2 (80:20) at TWD 12,000/t ($384/t) delivered. Theexchange rate $1 = TWD 31.25. In a week, the domestic prices have gone down by TWD 300/t ($10/t).
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