Deal prices for imported scrap have kept going up in Taiwan this week due to the supply shortage seen in the market, strong export positions and firm demand. Offers for ex-US HMS I/II 80:20 by containers have increased by $5-10/mt to $265-270/mt CFR late this week. Earlier in the week, deals were heard at $261-263/mt CFR, but contracts have been signed at $265/mt CFR since then, SteelOrbis has been informed.
At the same time, demand for ex-Japan scrap still exists in Taiwan. Offers for Japanese HMS I/II 50:50 scrap by bulk have reached $280/mt CFR, up $5/mt compared to last week, while deals have been heard at $275-278/mt CFR. As reported earlier, the previous transactions were done at levels $6/mt lower.
Most market participants expect that the uptrend will continue next week. “Holidays are approaching, so there will be less supply quantities and exporters will try to increase prices further,” a Taiwan-based customer said.
