TAIWAN November 01 2016 2:29 PM
TAIPEI (Scrap Register): Prices for Taiwanese containerized HMS # 1&2 80:20 imports continued to fall to $205 a ton during the week ended September 16, as per the latest figures from The Steel Index.
Taiwanese scrap prices dropped by another $5 a ton during the week to $205 a ton. Taiwanese mills were holding back in buying imported ISRI grade scrap during the week as inventories are currently at a healthy level, hence the usage for scrap will be limited as mills are not in full production.
Domestic scrap suppliers were still sending their stock to mills despite poor domestic demand for finished long products, as they fear this may affect scrap prices. In the short term, mills sentiments are not very positive about the outlook of the domestic steel market.