ASIA FERROUS SCRAP: Taiwan import price at 3-year low amid virus pandemic in US

March 28, 2020 / www.metalbulletin.com / Article Link

Import prices for ferrous scrap in Taiwan have fallen to a three-and-a-half-year low amid the spread of the Covid-19 coronavirus across all parts of the United States, the key supplier, where sellers have been trying to offload material to Asia quickly ahead of further price falls.

Talk of prices plunging in the major Turkish import market also caused many buyers to hold back from trading in the week ended Friday March 27, with sentiment turning increasingly bearish.
Buyers expected to see more price falls next week.
Vietnam
Fastmarkets' weekly price assessment for deep-sea bulk cargoes of steel scrap, HMS 1&2 (80:20), cfr Vietnam, was $238-240 per tonne on March 27, down by $20-22 per tonne from $260 per tonne the previous week.
A deep-sea cargo of 30,000 tonnes from the US West Coast was offered at $243 per tonne for HMS 1&2 (80:20), $248 per tonne for shredded and $253 per tonne for bonus scrap.

A 10,000-tonne cargo of HMS 1&2 (80:20) from Australia was sold at $248 per tonne cfr Vietnam earlier in the week. But market sources said that prices had fallen rapidly since then and that...

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