Taiwan Containerized Scrap import prices plummet to $277 a ton

TAIWAN May 25 2016 5:11 PM     

TAIPEI (Scrap Register): Prices  for containerized Taiwanese imports of HMS # 1&2 80:20 plummeted to $277 a  ton during the week ended May 06, as per the latest figures from The Steel  Index.

According to TSI, index for containerized Taiwanese imports of HMS  #1&2 80:20 dropped by 16 a ton to $277 a ton CFR Taiwanese port during the  week.

Buyers are seeing both the volume of scrap,  as well as seller’s offers, being more comparable to the past few weeks. This  indicates to Taiwanese mills that more scrap is available in the market and that  sellers are trying to cash in at a time when they feel that scrap prices are at  a peak.

Mills are therefore buying again, but not in the quantities seen  before as most participants feel that the scrap market is softening. Next week  will be an interesting time to see how the scrap market will shape in Asia as  Japanese scrap will again be available after their holiday.