TAIWAN June 04 2014 9:10 AM
TAIPEI (Scrap Register): Taiwanese HMS 1/2 80:20 containerized scrap import prices (CFR Taiwan Port) advanced slightly by $2 a ton week-on-week at $348 a ton in the week ended May 30th this year, as per the latest figures released by The Steel Index.
According to TSI, scrap index for containerized Taiwanese imports of HMS # 1&2 80:20 gained $2 a ton last week to finish at $348 a ton CFR port, representing the first price rise for seven weeks.
After US suppliers achieved higher prices for shipments into other ASEAN countries, they were emboldened to seek rises from levels achieved in previous weeks for cargoes to Taiwanese buyers.
Although domestic demand has showed no significant signs of improvement, fear that pricing may rise further in the coming days led Taiwanese steel mills to conclude deals at these slightly higher levels.