TAIWAN STEEL SCRAP: Buying focus shifts toward Japanese scrap

Taiwanese steel mills have shifted their buying focus toward bulk Japanese H1&H2 (50:50) scrap in light of the shortage of containerized heavy-melting scrap (HMS) 1&2 (80:20) from the United States West Coast.

Bids increased to $465-468 per tonne cfr Taiwan on Friday September 3, up from $460-465 per tonne cfr Taiwan mid-week.
There was a transaction concluded at $465 per tonne cfr Taiwan earlier in the week for a 5,000-tonne October-shipment cargo, but such a price level was no longer available by Thursday and Friday.

"Buyers will have to bid at least $472 per tonne cfr Taiwan in order to obtain any bulk Japanese scrap," a buyer source...

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