Prices for imported scrap have continued to increase this week at the same pace as last week. The uptrend in other Asian countries like Vietnam and India, together with the increase in Turkey, as well as the still not very high supply volumes, have supported prices in Taiwan.
Deals for ex-US HMS I/II 80:20 by containers have been done at $247/mt CFR Taiwan this week, with different sources saying that some trades have also been concluded at $2/mt up and down from this level. This means that the ex-US price level has gained $5/mt from last week. “Domestic scrap prices have increased in Taiwan... Buying prices in Vietnam are higher, Turkey is also on the rise, and so suppliers keep increasing offers to Taiwan also,” an importer told SteelOrbis. Offers for ex-US HMS I/II 80:20 by containers have reached $250/mt CFR.
Offers for ex-Japan H1/2 50:50 by bulk have also added $5/mt over the past week to $265-270/mt CFR, sources have said. But deals have been concluded mostly at the same level, reported last week - at $256-258/mt CFR. “Recently, we were still able to get Japanese scrap at below $260/mt CFR. So it is better than from the US for us,” an end-user said.