TAIWAN November 08 2016 2:35 PM
TAIPEI (Scrap Register): Prices for Taiwanese containerized HMS # 1&2 80:20 imports fell further to stay below $200 a ton mark during the week ended September 23, as per the latest figures from The Steel Index.
Taiwanese scrap prices dropped $9 a ton during the week to $196 a ton. Imported ISRI grade scrap prices continue to head south as Taiwanese mills further reduce their bidding price.
With mills showing a preference for domestic scrap, as well as reduced output, they have been slow to purchase material.
Moreover, with the new government in place for less than 6 months, mills foresee that the domestic demand issue will have little improvement before the end of the year.
On the suppliers’ side, most are standing by to see how the market will evolve as they are unwilling to meet current bidding prices.