Taiwan turns to Japan as US scrap offers rise
Aug 07, 2014 | 07:33 PM
| Sean Davidson
NEW YORK U.S. containerized ferrous scrap exports to Taiwan were at a near standstill this week after mills and exporters moved price expectations in opposite directions, creating a trade-halting gap.
Buyers in Taiwan said import prices for an 80/20 mix of No. 1 and No. 2 heavy melt were at the same levels as last week, with little inflow from the United States, where exporters reportedly raised offer prices.
Market participants put trades of containerized HMS 1&2 (80:20) at $343 to $348 per tonne c.f.r. Taiwan vs. $343 to $347 per tonne a week ago.
Taiwans mill buyers turned to Japan for supply this week after finding U.S. offers of $350 per tonne too high.....
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