According to market sources, Ex-US scrap prices to Taiwan bounced back today on China’s rebound. Fluctuations in the Chinese steel and futures markets kept some buyers on the sidelines until late in the week. On Friday December 2, updated offers for HMS I/II 80:20 moved up $10/mt to $240-245/mt CFR Taiwan from $230-235/mt last week and $230/mt level still heard Wednesday and Thursday of this week.
The increase in interest and offer range is expected to also increase the number of US offers to Taiwan buyers as they were relatively few from West coast exporters at the most recent price levels according to a source close to SteelOrbis.
On a side note, offer prices to Taiwan for HMS I/II 80:20 from Mexico were reported at $235-240/mt CFR and $230-240/mt CFR from various other countries in South America for December 2.