TAIWAN May 09 2016 11:02 AM     

TAIPEI (Scrap Register): Prices  for containerized Taiwanese imports of HMS # 1&2 80:20 continued to advance  sharply to $268 a ton during the week ended April 22, as per the latest figures  from The Steel Index.

According to TSI, prices for containerized  Taiwanese imports of HMS #1&2 80:20 surged $21 a ton to $268 a ton CFR  Taiwanese port during the week.

In Taiwan, bid prices for ISRI grade  scrap were revised on a daily basis. That said, sellers of scrap refused to  budge on their offer levels and seem to prefer to wait, rather than sell at a  lower price.

Some buyers are unsettled by the ongoing price hikes, but  have little option other than to bite the bullet and pay for the asking price -  hoping to cover their losses in the continuously gaining steel market.  

Yet, Taiwanese domestic market prices for rebar have failed to keep pace  with international scrap prices, making many mills continue to maintain their  wait-and-see approach before committing to any purchases.