TAIWAN March 29 2017 11:05 AM
TAIPEI (Scrap Register): Prices for Taiwanese containerized HMS # 1&2 80:20 imports dropped by $03 a ton to $278 a ton during the week ended March 17, as per the latest figures from The Steel Index.
Taiwanese mills continue to show resistance to buying imported ISRI grade scrap during the week, with most mills having healthy inventories and high prices deterring buyers.
A range of different offer levels have been heard from overseas sellers, but reported deals this week were at lower levels than last week, with mills bidding lower to avoid the bullish price moves seen in the global scrap market.
The mills’ determination to keep offer levels low has helped keep the sellers away, with many not willing to meet the bids, resulting in a quiet market.
Current sentiment is to ‘wait and see’ as market participants look to see if prices will push up again, or move down in the coming weeks.
