Containerized scrap export prices to Taiwan up

May 29, 2014 | 06:01 PM | Sean Davidson

Tags  ferrou scrap, scrap exports, container scrap, scrap prices, heavy melt, HMS, Sean Davidson

NEW YORK — Prices for containerized ferrous scrap exported to Taiwan logged a surprise turnaround, catching many market participants off guard.

Taiwan’s mills were largely expected to sit out of export markets in late May through June after facing seasonal production cuts and increased buying activity coming into May.

However, at least two producers reportedly found they were short on scrap and raised prices this week to fill their inventory pipeline.

Prices for containerized shipments of an 80/20 mix of No. 1 and No. 2 heavy melt briefly soared to $347 to $350 per tonne before dropping back to prior week levels of $340 to $345 per tonne, market participants said.....

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