The Taiwanese import scrap market has been unsettled this week. Though ex-US scrap prices have gone down slightly, market sources are not sure that this could become a trend. Japanese scrap suppliers have rolled over their offers, remaining uncompetitive in Taiwan.
The price for ex-US HMS I/II 80:20 scrap in containers in Taiwan has lost $5/mt over the week to $425-430/mt CFR this week, the lower end of the range translates to the latest deals, SteelOrbis has learned from market sources. Most offers have been at $430/mt CFR versus $435/mt CFR last week. “There are not too many offers from the US now, so this $5/mt decrease was quite surprising,” a local source said. Demand for ex-US scrap has been firm, supported by slight price decline and a lack of other sources for importers.
Offers for ex-Japan H1/2 50:50 by bulk have been still stable at $460/mt CFR, being uncompetitive for the past three weeks. According to sources, high freight rates, which are going to remain until June have been supporting prices at a high level. Moreover, Japanese exporters have been focusing on local sales lately ahead of the Golden Week holiday. Japanese exporters have been considering selling at JPY 45,000-45,500/mt ($417-422/mt) FOB for H2, which have been too high for most foreign buyers, not only Taiwanese.