TAIWAN May 19 2015 10:38 AM
TAIPEI (Scrap Register): Prices for containerized Taiwanese imports of HMS # 1&2 80:20 declined by $3 a ton to $223 a ton CFR Taiwan port in the week ended May 08, as per the latest figures from The Steel Index.
Bids edged lower the week as local demand for long finished steel products remained poor in Taiwan.
With the price of finished steel falling off the back of this lacklustre demand, mills have been forced to put pressure on their raw material suppliers in an effort to lower production costs.
Sentiment remains depressed with most market participants predicting poor demand and pricing pressures to continue for the foreseeable future.