Taiwan Containerized Scrap import prices plummet further to $200 a ton

TAIWAN May 31 2016 4:32 PM 

TAIPEI (Scrap Register): Prices for containerized Taiwanese imports of HMS # 1&2 80:20 plummeted further to $200 a ton during the week ended May 20, as per the latest figures from The Steel Index. 

According to TSI, index for containerized Taiwanese imports of HMS #1&2 80:20 dropped US$30/tonne to $200 a ton CFR Taiwanese port the week.

Overseas suppliers were offering large volumes, and lowering their selling price, to mills as tanking finished steel prices led to fears of further falls in raw materials markets. 

The Taiwanese domestic market for finished long products remained weak as mills were experiencing low demand from end-users. 

Japanese scrap prices also fell this week and most market players felt that this downtrend will permeate through to even lower delivered scrap prices in Taiwan in the coming week.