TAIWAN July 27 2017 11:24 AM
TAIPEI (Scrap Register): Prices for Taiwanese containerized HMS # 1&2 80:20 imports advanced by $04 a ton to $253 a ton during the week ended June 30, according to the figures from The Steel Index.
Taiwanese mills gave in to the pressure of international scrap prices moving upwards this week as deals concluded for imported ISRI grade scrap saw increases over last week’s prices.
The Taiwanese domestic market for rebar did not however see similar movements as mills have been cautious in buying too much scrap due to electricity costs seeing significant increases over the summer months.
Moreover, some mills are planning maintenance works over this period whilst others are cutting production during this time, hence the limited buying activity.