The downward trend of Taiwan’s import scrap market has continued this week. “Lots of local mills have massive import scrap arrivals, and so they are reducing prices and blocking incoming scrap,” a source from a Taiwanese mill reported. Also, US scrap prices for Taiwan have decreased gradually each day, SteelOrbis observes.
This week, offers for ex-US HMS I/II 80:20 scrap in containers to Taiwan have been at $365/mt CFR, $15-20/mt lower than the offers recorded last week at $380-385/mt CFR. Taiwanese scrap buyers believe that deals from the US will be done at $360/mt CFR and below.
The lowest offer levels for Japanese H1/2 50:50 scrap by bulk to Taiwan are now at $380/mt CFR, instead of $390/mt CFR last week. Also, Taiwan bought Japanese busheling scrap earlier this week at $420/mt CFR.
Domestic HMS I/II 80:20 scrap prices in Taiwan have decreased by TWD 900/mt or $33/mt over the past two weeks to TWD 11,800/mt ($384/mt) delivered to mill.
$1 = TWD 30.71