Over the past week, Taiwanese buyers’ import scrap prices have decreased by $10-15/mt depending on the origin, amid the global downtrend of prices.
Offers for ex-US HMS I/II 80:20 scrap in containers have moved down in Taiwan to $430-435/mt CFR, which is $5-10/mt below $440/mt CFR confirmed in deals late last week. The lowest level recorded in transactions this week was in southern Taiwan at $430/mt CFR, SteelOrbis has learned.
Japanese suppliers have still failed to conclude sales to Taiwan over the past week, with their offers for H1/2 50:50 scrap by bulk to Taiwan moving down from the level of $480/mt CFR to $465/mt CFR week on week. However, market sources state that today, August 6, Japanese suppliers are surprisingly offering the same material at $505/mt CFR Taiwan. Since the Kanto tender is one week away and Tokyo Steel has already decreased its prices, “This new $505/mt CFR offer to Taiwan makes no sense,” a Taiwanese source stated. For Japanese scrap, buyers’ price idea is at $470-475/mt CFR.
The continuing large price gap between ex-US and Japanese scrap means Taiwanese buyers will continue to prefer US origin material for now. Meanwhile, US domestic scrap prices have been settled, while prices of most material decreasing by $20-30/gt, except for busheling scrap prices which have remained stable month on month.