Scrap’s fall halted by Taiwan rebar sale

Mar 14, 2014 | 03:44 PM | Sean Davidson

Tags  scrap, ferrous scrap, HMS, heavy melt, rebar, Sean Davidson

NEW YORK — A late surge in sales for reinforcing bar in Taiwan has stopped a nearly weeklong decline in scrap prices to Taiwanese mills, AMM has been told.

Falling iron ore prices in China on March 10 and March 11 sparked a decline in domestic scrap prices across several Asian markets, including China, Japan and South Korea, with export prices to Taiwan expected to drop as sentiment soured across Far East Asia.

Containerized export prices for an 80/20 mix of No. 1 and No. 2 heavy melt to Taiwan fell to around $340 per tonne c.f.r. Taiwan March 13, market participants said, after previously trading at $345 to $347 per tonne c.f.r. Taiwan.....





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