On May 25, SteelOrbis reported ex-US containerized HMS I/II 80:20 scrap offers to Taiwan down at $342-345/mt CFR Taiwan.
Sources inform SteelOrbis that transactions have since reached the $335-338/mt CFR level with offers trending down to $340/mt CFR. The offers decreased $2-5/mt compared to the previous range.
A source said, "US prices corrected on global scrap environment, but with strong Japanese H2 domestic prices, an alternative scrap source, and active bids by South Korean mills for Japanese export scrap, US scrap prices to Taiwan may find support to rebound in June."