Taiwanese Containerized Scrap import prices plummet by $21.50 a ton during October

TAIWAN November 26 2015 3:41 PM

TAIPEI (Scrap Register): The monthly average of Taiwanese imports of HMS #1&2 80:20 fell by $21.50 a ton during October, as per the latest figures from the Steel Index.

Taiwanese steel mills continued to suffer from tepid domestic finished steel demand, whilst yard offers declined in line with international benchmark levels.

The monthly average of TSI’s index for Taiwanese imports of HMS #1&2 80:20 fell by 13.3% month-on-month to $140.25 a ton CFR Taiwanese port in October.

The majority of scrap procured was once again nonISRI grade material from Japan. Offers from US west coast yards were deemed too expensive, and so mills once again focused their efforts on re-rolling billets and melting lower quality scrap.

The monthly average of TSI’s index for North Asian HMS #1 scrap imports fell US$17.50/t to US$175.75/ tonne CFR in October. This index is under development.