TAIWAN June 11 2014 TAIPEI (Scrap Register): Taiwanese HMS 1/2 80:20 containerized scrap import prices (CFR Taiwan Port) rose by $4 a ton week-on-week at $352 a ton in the week ended June 6th this year, as per the latest figures released by The Steel Index.
According to TSI, scrap index for containerised Taiwanese imports of HMS # 1&2 80:20 gained 1.1% last week, to finish at $352 a ton CFR port.
Scrap suppliers maintain that their inventory levels are low, whilst scrap flows into yards are relatively slow, leading them to increase their offer prices.
International market forces are also serving to put upward pressure on Taiwanese import prices, with a number of ASEAN countries willing to pay higher prices for imported scrap.
A point of note is that some Taiwanese steel mills have begun importing higher volumes of competitively priced Chinese billet as an alternative to steel production, meaning scrap prices may drop in the near future.