Taiwan Containerized Scrap import prices gain further to $242 a ton

TAIPEI (Scrap Register): Prices for Taiwanese containerized HMS # 1&2 80:20 imports gained further to $242 a ton during the week ended November 11, as per the latest figures from The Steel Index.
The Taiwanese containerized market for HMS #1&2 80:20 increased $12 a ton during the week to reach $242 a ton. Despite only a limited number of deals being concluded the week, offer levels for imported ISRI grade scrap into Taiwan continued to see sharp increases.
Supplies of scrap into the Taiwanese market remained tight and competitive, which can be attributed to Chinese mills having entered the market to source material. 
Domestic demand for finished long products also remained weak and so, with international scrap prices continuing to increase, mills are beginning to have their margins significantly squeezed.