Import prices for containerized ferrous scrap in Taiwan stopped increasing this week because buyers have started looking to secure material from Japan instead of the United States.
The spread between bulk Japanese and containerized US-origin scrap narrowed to about $15 per tonne this week, making Japanese scrap a more economical choice for Taiwanese steel mills.Fastmarkets' daily price assessment for containerized cargoes of steel scrap, HMS 1&2 (80:20), US material import, cfr main port Taiwan was $238-240 per tonne on Friday July 17, unchanged from a day earlier but up by $5-8 per tonne from $230-235 per tonne...