TAIWAN July 07 2015 4:33 PM
TAIPEI (Scrap Register): Prices for containerized Taiwanese imports of HMS # 1&2 80:20 plummeted by $20 a ton to $200 a ton CFR Taiwan port in the week ended July 03, as per the latest figures from The Steel Index.
In a story familiar worldwide currently, Chinese billet is piling the pressure on scrap suppliers.
Scrap buyers feel no need to negotiate a price any higher than their initial bids as they have the confidence of cheap semifinished material to fall back on.
Many market participants expect this fall in scrap pricing will have the usual knock-on effect on the price of finished long products in Taiwan.
(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to firstname.lastname@example.org)