TAIWAN February 10 2015 6:07 PM
TAIPEI (Scrap Register): Prices for containerized Taiwanese imports of HMS # 1&2 80:20 fell significantly by $10 a ton to $233 a ton CFR Taiwan port in the week ended February 06, as per the latest figures from The Steel Index.
Negative sentiment is prevalent amongst mills as high inventories of scrap combined with poor domestic demand leaves little to be optimistic about.
Trades from the US East coast were concluded into Korea this week at far lower levels than seen at the end of January on the back of drastic price falls in the US domestic market.
With the Lunar new year holiday approaching a slowdown in ferrous markets is anticipated and it will be interesting to see the level at which the market settles once normal trading resumes.