Prices for imported scrap have increased in Taiwan in the first week of January 2021, following the positive trend in Turkey and amid exporters’ bullish views. The pace of the hike has been limited because of customers’ cautious attitude.
Deals for ex-US HMS I/II 80:20 scrap in containers in Taiwan have been reported at $445-450/mt CFR this week, up by $5/mt from the contract level last week. “Prices increased by $5/mt, so almost similar to gains in Turkey. There is only a tiny increase this week after New Year [holiday],” a Taiwan-based steel producer said. As SteelOrbis reported earlier, prices for ex-US scrap in containers surged by $35/mt before Christmas.
The latest sales of ex-Japan H1/2 50:50 scrap by bulk have been done at $460-463/mt CFR , while the previous bookings were mainly at $455/mt CFR, SteelOrbis has learned. Market sources are waiting for the Kanto Tetsugen export tender on January 13 to gain a clearer picture of the market’s future development.