On February 10, SteelOrbis reported ex-US HMS I/II 80:20 offers to Taiwan slightly down prior to the Chinese New Year holiday at $320-330/mt CFR Taiwan.
According to sources, offers for HMS I/II 80:20 scrap have rebounded to $330-337/mt CFR Taiwan. The updated range increased $10/mt from the bottom of the pre-holiday range and $7/mt from the top of the same range. The increase is attributed to higher global scrap prices through the week as well as a tight scrap supply.