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.