Container scrap prices slide as Taiwan retreats
May 08, 2013 | 04:42 PM
| Sean Davidson
NEW YORK West Coast export prices for containerized ferrous scrap have retreated to late-April levels following the end of a brief demand spike from Taiwan.
Market participants who had reported export sales of an 80/20 mix of No. 1 and No. 2 heavy melt in a range of $360 to $370 per tonne c.f.r. Taiwan at the start of May said prices are now back to the $350- to $355-per-tonne range.
An earlier lull in demand from Taiwan, China and South Korea had sent HMS 1&2 (80:20) prices under $350 per tonne in mid-April, but improving rebar prices in Taiwan forced mills there to return to U.S. shores for scrap, which helped briefly lift prices to a range of $355 to $360 per tonne (amm.com, April 26). Sources said prices even trekked as high as $370 per tonne for some shipments during the last days of April before gradually returning to the $350- to $355-per-tonne price range after Taiwanese mills fulfilled their initial orders.....
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