TAIWAN December 02 2016 10:36 AM

TAIPEI (Scrap Register): Prices for Taiwanese containerized HMS # 1&2 80:20 imports shot up to $230 a ton during the week ended November 04, as per the latest figures from The Steel Index.

The Taiwanese containerized market for HMS #1&2 80:20 increased by another $22 a ton during the week to reach $230 a ton. 

The volume concluded for imported ISRI grade scrap was limited into Taiwan as overseas suppliers were tight with supply due to global demand for scrap experiencing significant increases. 

Most mills in Taiwan were still not willing to meet the offers put forward by suppliers as they believed they were still too high. 

China entered the scrap purchasing market this week too and hence it has resulted in prices experiencing significant rises. 

This new demand from China, which comes as a result of EAF production becoming competitive, will most likely result in further tightening of global scrap supplies.