There are no signs of ferrous scrap import prices bottoming out in Asia any time soon, sources told Fastmarkets this week.
"Ferrous scrap prices in Asia are trapped in a bottomless pit," a source at a Japanese scrapyard said on Wednesday September 18. "It seems like there is no end to the price falls."Sellers have continued to offer lower prices this week into major import markets, with key price points in the region continuing to show sharp downtrends in the week to Wednesday September 18.Steel scrap HMS 1&2 (80:20 mix) US material import, cfr main port TaiwanTaiwanese steel mills have lowered their bids for scrap from the United States from last Friday when imported containerized material was sold at $243 per tonne cfr Taiwan. They are now looking for...