TAIWAN March 11 2016 10:11 AM
TAIPEI (Scrap Register): Prices for containerized Taiwanese imports of HMS # 1&2 80:20 gained further during the week ended March 04, as per the latest figures from The Steel Index.
According to TSI, index for containerized Taiwanese imports of HMS #1&2 80:20 increased further by $3 a ton to $164 a ton CFR Taiwanese port the week.
Taiwanese mills were unable to secure large volumes of imported ISRI grade scrap as prices continued to increase. Not many suppliers were offering to mills as many did not have stock to offer them.
Indian mills are also taking up whatever scrap there is available at the moment and are also offering competitive prices for it. The Taiwanese mills that did manage to conclude deals were however being offered very limited volumes.
Most mills were waiting to see how the international market will move and therefore decided to not take any action. Yet, with many believing that the current trend will last for a while, actions will have to be taken by next week.