TAIWAN March 11 2014 1:35 PM
TAIPEI (Scrap Register): Taiwan’s HMS 1/2 80:20 containerized scrap import prices (CFR Taiwan Port) advanced by nearly 1% week-on-week to $342 a ton in the week ended March 7th this year, as per the latest figures released by the The Steel Index.
According to TSI, scrap index for containerized Taiwanese imports of HMS # 1&2 80:20 rose $3 ton last week to finish at $342 a ton.
Taiwanese mills initially sought to secure material from US West Coast suppliers, with one transaction heard completed as high as $345a ton.
However, upon hearing that Tokyo Steel in Japan lowered their scrap procurement price, Taiwanese mills focused their attention on securing Japanese material, which was deemed a better option for them in the current market.
Mills took a largely passive approach, preferring to wait and see if Japanese prices drop further before committing to buying.