TAIWAN April 13 2015 2:35 PM
TAIPEI (Scrap Register): Prices for containerized Taiwanese imports of HMS # 1&2 80:20 plummeted by $9 a ton to $234 a ton CFR Taiwan port during last week as the week went on, as per the latest figures from The Steel Index.
Most mills are in no hurry to purchase scrap as they prepare for the annual restriction of electricity usage set by the Taiwanese government.
Domestic demand for rebar remains weak while the increase in material offered to mills this week suggests a shift into a buyers’ market.
A number of mills are reticent to bid at current levels as they believe the market will weaken further in time.