On April 6, SteelOrbis reported ex-US offers to Taiwan at $345/mt CFR with sources expecting negotiations through the week ended April 13 at $340-344/mt CFR Taiwan.
Sources inform SteelOrbis that HMS I/II 80:20 scrap offers to Taiwan trended down to $335-345/mt CFR over the week ended April 13 with small quantity deals closing at $330-334/mt CFR Taiwan, $10/mt lower than expectations a week ago. A source added that uncertainty in the global scrap market, weak domestic buying of steel in Taiwan, and ongoing negotiations with the US over the Section 232 import tariffs of 25 percent have contributed to the weak interest in imported scrap.
Larger containerized offers are reportedly at $340-345/mt CFR, but smaller quantity container buys are reportedly available at $335-340/mt CFR. A source added that in present market conditions the end of April may see containerized HMS I/II 80:20 scrap purchased at $320-330/mt CFR Taiwan from the US West coast, especially given the recent deep price corrections experienced by Japanese H2 scrap.