ASIA STEEL SCRAP DIGEST: Taiwan pays higher prices on rising freight costs, lack of vessels

Spot prices for containerized steel scrap imported into Taiwan continued to rise on Wednesday September 1 amid high freight costs from the United States' West Coast to Taiwan and a lack of container vessels and freight space.

Taiwan pays $448 per tonne for containerized scrapChina reports renewed interest for scrap importsCovid-19 pandemic weighs on Vietnam import demandDemand in India could pick up after monsoon endsTaiwan
There were transactions heard concluded at $448 per tonne cfr Taiwan for containerized heavy melting scrap 1&2 (80:20) on Wednesday September 1, sources said.
Offers for the material were heard at $450 per tonne cfr Taiwan on Wednesday, compared with $442-445 per tonne on Tuesday. Sources said on Wednesday that it is possible the next transaction price will rise to $450 per tonne cfr Taiwan.

"Taiwanese buyers are starting to pay higher prices for the material due to the higher freight costs and container shortages. The number of offers from suppliers was also limited," a Taiwanese trader told Fastmarkets. "The freight rate...

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