On January 5, SteelOrbis reported that containerized HMS I/II 80:20 deals to Taiwan increased on tight global supply and positive market sentiment. SteelOrbis reported that HMS I/II 80:20 reached $350-352/mt CFR. Ex-US containerized HMS I/II 80:20 offers were reportedly at $355-360/mt CFR.
Sources inform SteelOrbis that ex-US offers widened $5/mt on the top end to $355-365/mt CFR on containerized HMS I/II 80:20 scrap over the week. Bids were reportedly at $347-350/mt CFR and deals estimated at $350-355/mt CFR Taiwan from various regions including the US.
While containerized HMS I/II prices in some small tonnage deals increased by $3-5/mt buoyed by high prices of the alternative Japanese H2 scrap, sources inform SteelOrbis of some concern in the market of a possible soft downtrend as the Chinese domestic market has softened and the recent scrap supply shortage is expected to ease over the month as the high prices are attracting more feedstock from scrap collectors globally. Additionally, the upcoming Chinese New Year is expected to ease some of the pressure on global raw material prices.