Demand for imported scrap has become weak in the Taiwanese market by the end of the current week, as customers have decided to step back, seeing some slight offer price declines and waiting for further discounts next week.
Suppliers from the US West Coast have voiced offers for HMS I/II 80:20 in containers at $280/mt CFR on Friday, September 18. Early this week, all suppliers were insisting on prices at $285/mt CFR and above, with some deals signed at $285-287/mt CFR, sources have said. But by the end of the week, sentiment has worsened and buyers have started to receive offers at $280/mt CFR, aiming to buy at slightly below this level next week. “All raw material prices are down in Asia now,” a Taiwanese mill commented. “Taiwanese importers stopped buying and are watching the market,” another source said. The reference price for ex-US scrap in Taiwan has been lowered marginally from $280-283/mt CFR late last week to $280/mt CFR.
Offers for Japanese H1/2 50:50 by bulk have come down to $300/mt CFR Taiwan by the end of the week. Suppliers increased prices by $2-5/mt to $307-310/mt CFR early this week, but since then they have been forced to lower offers to more reasonable levels.