TAIWAN July 20 2015 5:05 PM
TAIPEI (Scrap Register): Many market participants expect prices for imported scrap into Taiwan to weaken further in July, against a backdrop of weak domestic steel demand and the availability of ever-cheaper Chinese-origin billets, said the Steel Index.
Mills will be bidding for scrap at levels that give parity to re-rolling billets, meaning ISRI grade scrap will likely find it hard to hold on above $200 a ton.
In the containerized markets, the monthly average of TSI’s index for Taiwanese scrap imports of HMS #1&2 80:20 fell by $3.70 a ton or down by 1.6% m-o-m in June to $222.80 a ton CFR Taiwanese port.
The index remained flat for the first part of the month before the downward price trend gathered pace leading to a $20 a ton fall in the last week of the month. Deals were scarce throughout the month and even when transactions were reported the volumes were relatively small.
(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to firstname.lastname@example.org)