TAIWAN STEEL SCRAP: High bunker fuel prices, port congestion push prices up

Prices for containerized ferrous scrap into key import market Taiwan have increased on the back of higher bunker prices, freight rates and strong demand from buyers for containerized cargoes due to a dearth of berthing spaces for bulk-shipment cargoes.

Fastmarkets’ daily price assessment for containerized steel scrap, HMS 1&2 (80:20), US material import, cfr main port Taiwan was $425-430 per tonne on Friday February 26, widening upward by $5 per tonne from Thursday's price, but up by $15 per tonne from $410-415 per tonne on February 19.
Transactions for containerized ferrous scrap have increased continually this week, with transactions concluded at $425 per tonne cfr Taiwan by Tuesday and Wednesday. Negotiation levels increased to $425-430 per tonne cfr Taiwan by Friday.
There was market chatter that bids had increased to $430 per tonne cfr Taiwan by Friday, but this could not be confirmed.

Offers for US-origin containerized...

Published

Paul Lim

February 26, 2021

10:02 GMT

Singapore