TAIWAN April 01 2014 2:35 PM

TAIPEI (Scrap Register): Taiwan’s HMS 1/2 80:20 containerized scrap import prices (CFR Taiwan Port) advanced by 1.7% week-on-week to $349 a ton in the week ended March 28th this year, as per the latest figures released by the The Steel Index.

According to TSI, scrap index for containerised Taiwanese imports of HMS # 1&2 80:20 gained by $6 a ton last week on the back of strong trading, as mills sought to fulfill newly placed orders for billets from overseas.

Mills were happy to meet the scrap offer prices in the market in light of these new orders, especially given the favorable exchange rate received for the billet.

Additionally, with summer bringing a restriction on electricity usage, mills were seeking to stock up inventory before higher production rates became prohibitive.