Prices for imported scrap in Taiwan have increased slightly this week as expected, with the support of moderate demand. Customers have been mainly expecting further stabilization of prices, though small upturn movements are also possible.
Ex-US HMS I/II 80:20 in containers have been traded at $268-270/mt CFR by the end of this week against $265/mt CFR late last week and early this week. Offers have increased to $270/mt CFR in the middle of the week, according to reports, and then suppliers have been in negotiations at this level, with small discounts provided. “There are not many changes in market prices. Everyone does not want to take risks,” a local source said, adding that the elections in the US are awaited and signals from the other markets like Turkey are also being watched.
Japanese H1/2 50:50 scrap by bulk has been traded at $288-290/mt CFR to Taiwan over the past week. It is higher than the previous tradable value at $285/mt CFR, but slightly below the offer level at $290-303/mt CFR voiced late last week.