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Taiwan Containerized Scrap import prices tumble further to $270 a ton

2017.04.06 63 Font size: A- A A+

TAIPEI (Scrap Register): Prices for Taiwanese containerized HMS # 1&2 80:20 imports tumbled further by $08 a ton to $270 a ton during the week ended March 24, as per the latest figures from The Steel Index. Prices for imported ISRI grade scrap into Taiwan slid $8 a ton during the week, to $270 a ton. Mills continued to lower bid levels as the end of the week saw buying interest tail off sharply. A few deals were concluded at the start of the week, but a falling market seemed to dampen appetite, likely due to sellers being reluctant to meet the lower bids. A deal between a US merchant and a North Asian buyer came to light mid-week, confirming lower price levels. The bearish sentiment looks to be weighing on activity for now and mills are also looking to the wider steel markets to take cues for further price moves.