TAIWAN June 17 2014 9:19 AM
TAIPEI (Scrap Register): Taiwanese HMS 1/2 80:20 containerized scrap import prices (CFR Taiwan Port) advanced further by $4 a ton week-on-week to $356 a ton in the week ended June 13th 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 $4 a ton to finish at $356 a ton on the back of tightened supply from the US. Mills also reported low inventory levels, which, despite low current utilization rates, need replenishing.
Demand for finished products has shown a slight uptick in recent days, providing further support for scrap pricing.
However, the threat of cheap Chinese billets being utilised as an alternative by re-rolling mills still remains.