Prices for imported scrap have continued to go up in Taiwan this week and buyers have remained interested in purchases, but the pace of price growth has slowed down. As a result, customers have been more cautious by the end of the week.
The latest booking for ex-US HMS I/II 80:20 in containers has been done at $435/mt CFR Taiwan, up by $5-10/mt compared to the level late last week. As SteelOrbis reported earlier, last week, Taiwanese customers accepted an increase of $10-15/mt. Offers for ex-US HMS I/II 80:20 in containers have come to $435-440/mt CFR on Friday, but “buyers have started to be more careful,” an importer said. “There are many more offers this week, from the US and from Japan as well,” another buyer said.
Some Asian market sources believe that prices for import scrap have almost reached a peak, but the outlook is still unclear as the uptrend is still seen in Turkey and Chinese importers keep buying.
Ex-Japan H1/2 scrap by bulk has been sold at $440/mt CFR this week, indicating only a small change compared to $435-440/mt CFR Taiwan last week. Most offers have been at $450-455/mt CFR, but no deal at such a level has been heard.
Also, a few offers for Russian A3 scrap have emerged in Taiwan at $455-469/mt CFR this week. Traditionally, Russian suppliers from the Far East prefer to sell to South Korea.