Taiwanese container scrap dips in weak market

2018-04-27 11:33:00

The container scrap import market in Taiwan dipped over the past week, Kallanish notes. Importing EAF mills managed to secure limited tonnages at slightly lower prices than last week.

Several Taiwanese EAF mills have reportedly ordered container HMS 1&2 80:20 US scrap at $330-333/tonne cfr this week, trading sources in Taiwan say. While transactions for imported US scrap concluded at lower prices, these involved small tonnages, traders say.

Most US suppliers continued to offering material at the minimum of $340-345/t cfr. "Mills were bidding at $325-330/t cfr," a Kaohsiung trader reports.

The scrap market is still sluggish with weak demand for rebar in the country. Mills cut their domestic rebar prices by the equivalent of $3/t this week. “But domestic scrap prices will be kept unchanged,” a Taipei trader says.

US container HMS 1&2 80:20 scrap is assessed by Kallanish on Wednesday at $330-333/t cfr Taiwan, down from the previous Wednesdays $335/t cfr.