Ex-US scrap prices down further in deals to Taiwan, close to bottom

Wednesday, 02 October 2019 14:27:55 (GMT+3)   |   Istanbul

Taiwanese scrap importers have managed to get lower prices for ex-US scrap and to book 30,000 mt of scrap in total this week.

Deals for ex-US HMS I/II 80:20 in containers have been concluded at $220-225/mt CFR, while offers were heard at $228-230/mt CFR last week, SteelOrbis has been informed.

“Scrap prices have started to go down slowly recently. We are not far from the bottom,” the major Taiwanese importer said. Import scrap prices in Taiwan have lost $30/mt from early September.

This week, major domestic long steel producer Feng Hsin has announced a TWD 200/mt ($6/mt) cut in local scrap purchase prices.

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