TAIWAN June 24 2016 1:45 PM
TAIPEI (Scrap Register): Prices for containerized Taiwanese imports of HMS # 1&2 80:20 dropped further to $188 a ton during the week ended June 03, as per the latest figures from The Steel Index.
According to TSI, index for containerized Taiwanese imports of HMS #1&2 80:20 dropped $2 a ton to $188 a ton CFR Taiwanese port during the week.
ISRI grade scrap trades into Taiwan were far and few between as buyers and sellers were unsatisfied with current price levels and hence stayed out of the market.
Scrap inventory levels were still reasonable for most mills and therefore there has been no pressure to restock.
Some mills in the market were, however, looking at Chinese square bars but Chinese mills were not satisfied with the prices being offered. Therefore, with domestic demand remaining sluggish sentiment looking ahead is not very optimistic.