TAIWAN STEEL SCRAP: Price plunge slows amid seller resistance

The recent price plunge for imported containerized ferrous scrap into Taiwan started to ease this week amid increasing seller resistance to slash offers further, sources told Fastmarkets during the week to Friday March 19.

Fastmarkets' daily price assessment for containerized steel scrap, HMS 1&2 (80:20), United States material import, cfr main port Taiwan was $390-395 per tonne on Friday, down by $5 per tonne from Thursday and down by $25 per tonne from $415-420 per tonne a week ago.
The fall in Japanese and Turkish import prices in recent weeks led buyers to aggressively slash bids, with some floating indications at $380-390 per tonne cfr Taiwan at the start of the week.

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