Prices for imported scrap in Taiwan have posted a sharp fall over the past week with both suppliers from Japan and the US providing discounts continually this week. Weaker sentiment in the global market, especially in Turkey, has impacted prices in Taiwan.
The latest deal price level has been reported at $430/mt CFR and slightly below for ex-US HMS I/II 80:20 scrap in containers, which is down by $15-20/mt from late last week. “There is a lack of confidence in the market now, so sellers were lowering prices almost every day,” a steel producer from Taiwan told SteelOrbis. “The sharp price fall is not healthy, so we believe prices will continue to correct downwards, but more gradually,” he added.
The price level for ex-Japan H1/2 50:50 scrap by bulk has been from $440/mt CFR and slightly below up to $435/mt CFR in deals this week. This means prices have lost more than $20/mt from last week's contract price level at $460-463/mt CFR for ex-Japan H1/2 50:50 scrap by bulk. “Prices [from Japan] reached their peak in the Kanto tender, but all major buyers are asking for more than $10/mt discounts,” a source said.