Imports scrap prices lose another $10/mt in Taiwan, further cuts possible

Friday, 27 March 2020 16:53:53 (GMT+3)   |   Istanbul
       

Import scrap prices have dropped again in Asia as customers from Taiwan and Vietnam have been showing only limited interest in purchases, while there has been no negative impact from the recent lockdowns in supplier countries on overall offer volumes, SteelOrbis has been informed on Friday, March 27.

Deals for ex-US HMS I/II 80:20 in Taiwan were heard at $215/mt CFR in the middle of the week, but have declined to $210/mt CFR later, which is $10/mt below deals heard a week ago. “Most Taiwanese scrap customers don’t want to buy and were skipping deals this week as rebar prices in the future are very uncertain,” one of the Taiwanese importers said. Moreover, buyers from Taiwan are waiting for a further price decline to $200/mt CFR. “Suppliers [from the US] have stocks to sell,” another customers told SteelOrbis. “Even despite the Los Angeles lockdown, the effect on sales is not so big so far,” another source said.

Japanese H2 scrap have been offered at $225/mt CFR on average, also $10/mt below last week. Shindachi scrap from Japan has been offered by bulk to Taiwan at $245/mt CFR. Some tonnages of both grades were sold to Taiwan early this week.


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