TAIWAN August 05 2016 11:19 AM
TAIPEI (Scrap Register): Prices for containerized Taiwanese imports of HMS # 1&2 80:20 slipped during the week ended July 01, as per the latest figures from The Steel Index.
Taiwanese containerized scrap import prices dropped by $1 a ton to $204 a ton CFR Taiwan port. Scrap inventories are currently at a good level for mills in Taiwan and hence they are not in a hurry to purchase any material.
Prices for domestic finished long products were unchanged this week, however, due to restrictions on electricity usage in the summer months, mills were beginning to cut production.
Finally, as bids were heard below $200 a ton late in the week, mills are expecting to see lower scrap prices in the coming weeks.