TAIWAN May 18 2017 3:22 PM
TAIPEI (Scrap Register): Prices for Taiwanese containerized HMS # 1&2 80:20 imports plunged by 10.7 percent month-on-month to $243.25 a ton during the month of April, according to The Steel Index.
Prices for imported ISRI grade scrap into Taiwan took a significant dive over the month. High scrap prices at the start of the month kept buyers out of the import market which, combined with healthy domestic supply, pressured importers to lower offers.
Rumours of scrap exports out of China also weighed on the market at the end of the month and further pressurised the import market.
Finally, weak demand for rebar and steel products in Taiwan has constricted margins for mills, further tempering demand for scrap.