TAIWAN June 09 2017 11:19 AM
TAIPEI (Scrap Register): The Monthly average prices for Taiwanese containerized HMS # 1&2 80:20 imports slightly up by 0.5 percent month-on-month to $237.60 a ton during the month of May, according to The Steel Index.
The Taiwanese market was plagued by weak domestic demand for finished and semi-finished products, as well as some material being exported from China causing some concern in the market place. With uncertainty thick in the air, prices remained flat for much of the month.
Market sentiment was decidedly bearish at the start of the month, with prices for imported ISRI grade slipping. Weak demand and material from China being the primary downward drivers.
Sentiment improved somewhat over the month as domestic rebar prices rose, providing a brief boost to imported scrap prices.
Scrap demand however fell again towards the end of the month, as the country headed into their annual restriction on electricity usage.
Offered prices rose, but concluded deals were limited and so were the volumes. Chinese supply continued to dampen demand and the domestic market remains weak for finished long products.