Taiwanese containerized scrap import prices fall further to $253 a ton

TAIWAN January 30 2015 1:30 PM

TAIPEI (Scrap Register): The prices for containerized Taiwanese imports of HMS # 1&2 80:20 fell by $7 a ton last week to $253 a ton CFR Taiwan port.

According to TSI, prices fell throughout the week due to continued lacklustre domestic demand and the current low iron ore price prompting mills to bid lower for scrap in order to remain competitive.

Given the unfavourable market situation at present, some mills are cutting back on production by one to two shifts instead of running full-force on three in order to reduce overhead and manpower expenses.