On April 24, SteelOrbis reported ex-US containerized HMS I/II 80:20 scrap offers to Taiwan in the wide offer range of $332-345/mt CFR with expectations of a slight uptick.
Sources informed SteelOrbis that offers have now increased to $340-348/mt CFR on limited cargoes. A source stated, “The sub-$340/mt CFR offers to Taiwan disappeared. With Turkey buying HMS I/II 80:20 scrap at prices above $350/mt CFR Turkey on East coast, Japanese H2 offers remaining firm above $345/mt CFR Taiwan, tight global scrap supplies, Chinese steel numbers improving, and the somewhat fading doomsday scenario resulting from the Section 232 tariffs, scrap numbers to Taiwan have the potential to hold and even increase despite the slight softness expected in May US domestic scrap prices.”