TAIWAN February 14 2017 11:08 AM
TAIPEI (Scrap Register): Prices for Taiwanese containerized HMS # 1&2 80:20 imports gained by $8 a ton to $245 a ton during the week ended February 10, as per the latest figures from The Steel Index.
The Taiwanese market remained silent over the week, with no concluded trades for imported ISRI grade scrap.
Imported material was seen making its way to North Asian buyers, as well as South East Asian mills, however Taiwanese buyers seemed unable to raise their bid levels to match the offers from overseas scrap exporters.
Exporters are back in the driving seat, with good demand from the Turkish market supporting prices. The Taiwanese mills are facing a squeeze, as rebar prices fall, and scrap prices rise, rapidly eroding the mills margins, and forcing them out of the market.