On May 23, SteelOrbis reported ex-US containerized HMS I/II 80:20 scrap offers to Taiwan at $350-351/mt CFR Taiwan. Sources inform SteelOrbis that deals for the week were reportedly at $339-345/mt CFR Taiwan.
With the latest decline in Turkish imported scrap prices and “sufficient global scrap supplies due to subdued global scrap trading activity in the past month,” offer prices have since declined to $342-345/mt CFR Taiwan on May 25. Prices have declined $8/mt from the bottom of the previous range and $6/mt from the top of the same range. Sources report limited offers as some West coast sellers are adopting a wait-and-see approach on uncertainty, and the potential for demand from other markets.