On October 6, SteelOrbis reported limited deals for ex-US containerized HMS I/II 80:20 at $280-285/mt CFR Taiwan. According to sources, during the week ended October 13, the deal prices on limited transactions for ex-US containerized HMS I/II 80:20 widened down the bottom of the previously reported range by $5/mt to $275-285/mt CFR Taiwan.
A source noted that the decrease was due to market uncertainty through the week as both buyers and sellers sought to close some deals. Looking toward the upcoming week, a separate source noted that “the rebound in Turkish import scrap prices along with only a gradual decline in coking coal and iron ore prices” is giving confidence to the scrap market that “may lead buyers and sellers to agree to deals on the higher side of the range in the coming week.” Ex-US offers on HMS I/II 80:20 are reportedly at $285-295/mt CFR Taiwan, an increase of $5/mt from the top of the offer range reported on October 6.