TAIWAN March 30 2016 9:43 PM

TAIPEI (Scrap Register): Prices for containerized Taiwanese imports of HMS # 1&2 80:20 shot up further during the week ended March 25, as per the latest figures from The Steel Index.

According to TSI, index for containerized Taiwanese imports of HMS #1&2 80:20 increased $15 a ton to $209 a ton CFR Taiwanese port this week. Offers to Taiwanese mills rose almost on a daily basis as suppliers were trying to find the price that the buyers were willing to pay. 

Some mills in Taiwan were taking a wait and see approach, while others were buying what they could get from suppliers. However, some market players in Taiwan believe mills were not willing to buy big volumes due to the volatility of the scrap market. 

Domestic demand for finished long products remained weak, but orders were picking up for mills as many believed stockists and end users were simply placing orders for fear of prices moving up further. 

Moreover, mills in Taiwan were only taking orders which they believed they could produce due to fear of being unable to secure materials for further production.