Taiwan Containerized Scrap import prices continue to decline to $233 a ton

TAIWAN May 26 2017 11:24 AM
TAIPEI (Scrap Register): Prices for Taiwanese containerized HMS # 1&2 80:20 imports continued to decline by $02 a ton to $233 a ton during the week ended April 28, as per the latest figures from The Steel Index.

Mills in Taiwan stood firm on their bidding prices for imported ISRI grade scrap, which, combined with weak domestic demand for rebar, caused prices to decline further the week. 

The Taiwanese Containerized Scrap price slipped $2 a ton to $233 a ton on the week. Mills have lowered offers for semi-finished and finished long products as they see this weak demand trend continuing. 

The recent scrap exports from China added further pressure to the market in North and South East Asia, driving a bearish sentiment through the market.