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.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...