Taiwanese Containerized Scrap import prices advance further to $224 a ton

TAIWAN April 27 2016 1:29 PM 

TAIPEI (Scrap Register): Prices for containerized Taiwanese imports of HMS # 1&2 80:20 advanced further during the week ended April 08, as per the latest figures from The Steel Index.

According to TSI, prices for containerized Taiwanese imports of HMS #1&2 80:20 increased by $5 a ton to $224 a ton CFR Taiwanese port this week. Offer prices of imported ISRI grade scrap have moved up at a pace that made it increasingly difficult for mills to price domestic finished long products accordingly. 

Although local stockists and end users of finished long products were still putting in orders for fear of price increases, mills continued to limit their intake due to scrap still being difficult to secure. 

Even if mills were willing to match these offers, scrap volumes would continue to be an issue. With the present international scrap market situation, the road ahead looks to be a rough one for Taiwanese mills as they face high prices of imported scrap while in turn trying to meet the domestic demand.