Prices for imported scrap have moved up further in Taiwan this week – by $5/mt owing to overall good demand in the country and gains seen in Turkey. Moreover, offer volumes from the US have been still limited.
Offer prices for ex-US HMS I/II 80:20 by containers have reached $245/mt CFR Taiwan, up by $5/mt week-on-week. Deals have been signed at $240/mt CFR early this week and the latest bookings have been at $242/mt CFR, up by $4-5/mt compared to contracts last week, SteelOrbis learned. Some importers reported that overall offer volumes from the US West Coast have been limited as suppliers are working on their already signed contracts and have some problems with collection of scrap.
Also “there is definitely Turkey’s effect. Prices are going up, but not dramatically here and there,” one of the customers in Taiwan said. He also added that demand in Taiwan has improved since last week and customers can accept some gradual price increase for imported scrap.
The latest booking for ex-Japan H1/2 50:50 has been at $258/mt CFR Taiwan this week, up by $4/mt compared to last week. Offers added $5/mt to $260-265/mt CFR. Japanese suppliers have been active and bullish moods prevailed in the export market in Japan as sellers have also managed to increase deal prices to Southeast Asia.
