ASIA FERROUS SCRAP: Steady demand in Taiwan props up prices

Prices in the Taiwanese ferrous scrap import market continued to trend upward in the past week due to steady demand from buyers in the territory.

Buyers in Vietnam in the meantime turned toward Japanese scrap and stayed away from United States-origin materials.
Chinese demand for downstream billet has also supported scrap prices, which have not been affected by the weak downstream demand for long steel products in other parts of Asia.
Vietnam
Fastmarkets’ price assessment for bulk shipments of steel scrap HMS 1&2 (80:20), cfr Vietnam was $275 per tonne cfr on Friday November 15, unchanged from a week earlier.

Cargoes of HMS 1&2 (80:20) from the US West Coast continued to be offered at $280-287 per tonne...

Published

Lee Ken Kiat

November 15, 2019

09:45 GMT

Singapore