Prices for import scrap have failed to improve in the Taiwanese market over the past week and deals have been done at slightly lower levels this week, though signs of an imminent improvement in the near future have started to emerge, sources have told SteelOrbis.
Offers for ex-US HMS I/II 80:20 in containers have been heard at $425/mt CFR, down by $5/mt over the past week. Deals in the first half of the week were done at $423/mt CFR, down by $2/mt. Some mills also purchased ex-US material at $425/mt CFR. As a result, the tradable value for ex-US HMS I/II 80:20 in containers in Taiwan has lost $2-5/mt over the past week to $423-425/mt CFR. The interest in purchases has not been strong, putting pressure on suppliers.
Nevertheless, by the end of the week, some higher offers to buyers in southern Taiwan have started to emerge - at $425-430/mt CFR again. “We received very few offers on Thursday, which may be a sign for suppliers to increase prices next week,” one local source said.
Japanese mills are still offering H1/2 50:50 by bulk at $460/mt CFR and some have increased prices to $465/mt CFR before leaving the market due to the holidays which started on April 29.
Some Taiwanese sources said that owing to stronger demand in the local market in the US and the uptrend in the billet segment in Asia, they do not exclude that higher scrap prices may be accepted in Taiwan in the coming two weeks.