TAIWAN March 17 2016 2:34 PM
TAIPEI (Scrap Register): Prices for containerized Taiwanese imports of HMS # 1&2 80:20 rose significantly during the week ended March 11, as per the latest figures from The Steel Index.
According to TSI, index for containerized Taiwanese imports of HMS #1&2 80:20 increased by $16 a ton to $180 a ton CFR Taiwanese port during the week.
There were a few concluded deals for ISRI grade scrap into Taiwan earlier in the week, but with offer prices rising to around $190 a ton by mid-week, deals became scarce.
Some smaller mills were accepting scrap around $185 but suppliers were unwilling to compromise to this price. Larger mills in Taiwan are also not accepting prices beyond $180 a ton, which was their last bidding price.
A lot of mills in Taiwan have stopped taking orders for domestic rebar due to the uncertainty of raw materials supply; instead they are having the wait-and-see approach with the current scrap situation.