Recently, the transaction prices of the electric furnace (EF) killed wire rods have increased to NT$18,000/ton in the Taiwanese market, driven by surged scrap prices.
In fact, the transaction prices of EF killed wire rods stayed at MT$17,800/ton in the Taiwanese market for a while due to China Steel Corp. (CSC)'s low-priced offers, in spite of continuously increased scrap prices.
However, the sharply surged scrap prices supported the EF killed transaction prices to increase to NT$18,000/ton recently.
It's known that the prices of the US HMS 80:20 (1&20) to Taiwan have jumped by US$25~US$30/ton to US$370/ton C&F recently from the aprevious low level of US$340/ton C&F.
For the prospect, marker insiders expected the transaction prices of EF killed wire rods would increase further if scrap prices rise again.
