TAIWAN STEEL SCRAP: Price rebound sends buyers scrambling

Rebounding scrap prices in Asia have caused Taiwanese importers of containerized ferrous scrap to source material even with the start of the Lunar New Year holidays in the territory.

Fastmarkets' daily price assessment for containerized cargoes of steel scrap, HMS 1&2 (80:20), US material import, cfr main port Taiwan was $370-375 per tonne on Thursday February 11, unchanged from a day earlier but up by $15-20 per tonne from $350-360 per tonne on February 5.
Negotiations had risen by $15 per tonne in the early part of the week to $365 per tonne cfr Taiwan by Tuesday. There was a transaction concluded at $365 per tonne cfr Taiwan on Tuesday.
Negotiation levels had increased further to $370-375 per tonne cfr Taiwan by Wednesday.

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