TAIWAN STEEL SCRAP: Post-Lunar New Year rebound leads to surge in scrap import prices

Taiwanese importers of containerized ferrous scrap have had to pay more for their supplies after a swift rebound in Asian scrap prices following the Lunar New Year holidays in the region.

Fastmarkets’ daily price assessment for containerized steel scrap, HMS 1&2 (80:20), US material import, cfr main port Taiwan was $410-415 per tonne on Friday February 19, an increase of $10-20 from Thursday's price, but up by $40 per tonne from $370-375 per tonne on February 11.
A strong start to the Chinese steel market on February 18 caused sentiment to swiftly improve immediately after the Lunar New Year.
Buyers were not able to get any imported cargoes at pre-Lunar New Year levels and instead faced offers from suppliers of $400-410 per tonne cfr.

Bids were coming in at $390 per...

Published

Paul Lim

February 19, 2021

10:02 GMT

Singapore