TAIWAN March 18 2014 2:35 PM
TAIPEI (Scrap Register): Taiwan’s HMS 1/2 80:20 containerized scrap import prices (CFR Taiwan Port) remained flat week-on-week at $342 a ton in the week ended March 14th 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 remained flat last week at $342 a ton. The disparity between Taiwanese mills’ bid prices of $338-340 a ton and US suppliers’ offers of $346-349 ton meant that there was little business done.
The Taiwanese mills were reluctant to raise their bidding price in the context of lower Japanese scrap prices and overall weak domestic demand for finished steel products.
Domestic scrap could also be sourced much more cheaply than imported material, with a difference of a few hundred Taiwan Dollars making domestic material more appealing for the moment.