TAIWAN August 05 2015 10:30 AM
TAIPEI (Scrap Register): Prices for containerized Taiwanese imports of HMS # 1&2 80:20 declined further to $175 a ton in the week ended July 24, as per the latest figures from The Steel Index.
According to TSI, index for containerized Taiwanese imports of HMS #1&2 80:20 fell $4 a ton the week to $171 a ton CFR Taiwanese port.
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Domestic scrap prices are currently lower than imported prices, meaning mills have turned their attention away from imports for the time being.
Domestic demand for finished long products is so weak that mills have no choice but to constantly lower their bids, whilst domestic scrap suppliers are willing to meet these bids as they don’t see any stop to this price erosion in the near future.
Imports of Chinese billets have now reportedly come to a standstill, with scrap now much more attractive at these lower prices.
(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to email@example.com)