TAIWAN December 23 2016 2:08 PM
TAIPEI (Scrap Register): Prices for Taiwanese containerized HMS # 1&2 80:20 imports gained further to $250 a ton during the week ended December 09, as per the latest figures from The Steel Index.
Imported ISRI grade scrap prices into Taiwan moved up by $10 a ton during the week to $250 a ton. The Chinese steel futures market pushed higher this week, in turn dragging scrap prices up with them. Physical demand for finished long products in Taiwan’s domestic market remained weak however.
Mills are bidding at higher prices because overseas suppliers are pushing prices up based on the strong performance of the Chinse rebar and billet futures markets, and the expectation of increased physical demand from the country.
