Taiwan lifts container scrap buying prices

Apr 26, 2013 | 04:19 PM | Sean Davidson

Tags  scrap, exports, ferrous scrap, steel scrap, HMS, heavy melting scrap, South Korea, Taiwan China

NEW YORK — West Coast export prices for containerized ferrous scrap are on a gradual incline due to a renewed uptick in demand from Taiwan.

Market participants said that a long lull in interest from mill buyers in Taiwan gave way to better market conditions this past week after mills in the region beat down the market too hard and rebar prices in Taiwan recorded a little boost.

Sources said prices have reclaimed about $5 per tonne from mid-April levels (amm.com, April 16), with trades reported this past week in a range of $355 to $360 per tonne for an 80/20 mix of No. 1 and No. 2 heavy melt delivered to Taiwan.

At the moment, Taiwan appears to be the sole supporter of the West Coast scrap export market, as South Korean consumers continue to focus on cheaper imports from Japan, buoyed by a favorable yen, and demand from China remains depressed, sources said.....

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