TAIWAN STEEL SCRAP: Prices increase on limited supply, bullish outlook

Buyers of containerized ferrous scrap in the key Taiwanese market paid higher for imported cargoes over the week despite attempts to resist price increases.

Fastmarkets' daily price assessment for containerized steel scrap, HMS 1&2 (80:20), United States material import, cfr main port Taiwan was $440-445 per tonne on Friday May 7, increasing by $5-10 per tonne from a day earlier and up by $17-20 per tonne from $423-425 per tonne on April 30.
A number of factors have caused prices to increase, market sources said.
Sellers were withholding cargoes on expectations of further price increases, while scrapyards along the United States' West Coast also did not offer much quantities for sale.

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