Import prices for containerized heavy melting scrap (HMS) in Taiwan increased further this week on expectations of the United States' Section 232 steel import tariffs resulting in lower supply of the steelmaking raw material.
There was also some tightness in supply in the spot market because traders and US suppliers withheld cargoes in anticipation of higher prices in the coming weeks. Metal Bulletin's assessment of import prices for US-origin HMS 1&2 (80:20) sold into Taiwan was $345-355 per tonne cfr for the week ended Friday March 2, up $15 per tonne from a week earlier.Deals were heard concluded at $345-350 per tonne cfr Taiwan during the week. A major buyer was heard to have...