TAIWAN July 13 2017 11:21 AM
TAIPEI (Scrap Register): Taiwanese containerized HMS # 1&2 80:20 imports monthly average prices plunged by 15.8 percent month-on-month to reach $200 a ton during the month of June this year, according to the figures from The Steel Index.
The Taiwanese market there was also little price volatility as mills reduced scrap buying due to electricity restrictions in the summer months.
It was a slow start to the month for Taiwanese buyers as many were reluctant to purchase scrap due to the annual restrictions on electricity usage over the summer months.
The emergence of scrap material ex-China gave mills additional venues to purchase from; however concluded deals remained limited as domestic demand for finished long products remained weak as a result of a limited number of construction projects.
Prices increased to $250/t in the middle of the month due to an increase in US domestic demand for scrap material, in turn resulting in limited material available for the export market.
Mills were however facing a tough time as import prices increased, yet they were unable to increase prices for finished material due to weak demand.