According to sources, several large containerized HMS I/II 80:20 buys have occurred in the $285-286/mt CFR Taiwan basis with smaller volume buys with prices at $290-294/mt CFR Taiwan.
SteelOrbis has been informed that domestic rebar offers, for example, in the domestic Taiwanese market have increased $10-15/mt in the past week despite lackluster domestic demand to incorporate the increased raw material costs and reflect global increases in finished steel goods.
Offers of containerized HMS I/II 80:20 scrap are presently at $295-305/mt CFR Taiwan.
The offers above $300/mt CFR Taiwan are motivated by the recent ex-US (Florida) bulk scrap deal to Turkey price level that reached $353/mt CFR on HMS I/II 80:20 as "it shows tightness in scrap supply and strong upward global trend.”