Buyers in Taiwan continued to bid at higher prices for containerized steel scrap cargoes on Tuesday October 26, but there were expectations on the sell-side that the market would stabilize this week, sources told Fastmarkets.
?EUR?Taiwanese buyers bid higher for containerized cargoes
?EUR?South Korean mills raise bid prices for higher-grade materials
?EUR?Major Chinese steelmakers reduce domestic scrap buy prices.
Taiwan
Higher bids from Taiwanese buyers were heard in the past day for containerized HMS 1&2 (80:20) from the United States' West Coast, sources told Fastmarkets on Tuesday.
Bids were heard at $485-490 per tonne cfr Taiwan. Some market participants said that there were rumors about bids for containerized scrap imports at $490-495 per tonne cfr Taiwan.
Containerized cargoes from the US West Coast were offered at $490-500 per tonne cfr Taiwan on Tuesday.
"We expect the Taiwan market to...