ASIA STEEL SCRAP DIGEST: Bids for import containers to Taiwan keep rising

Buyers in Taiwan continued to bid at higher prices for containerized steel scrap cargoes on Tuesday October 26, but there were expectations on the sell-side that the market would stabilize this week, sources told Fastmarkets.

• Taiwanese buyers bid higher for containerized cargoes
• South Korean mills raise bid prices for higher-grade materials
• Major Chinese steelmakers reduce domestic scrap buy prices.
Higher bids from Taiwanese buyers were heard in the past day for containerized HMS 1&2 (80:20) from the United States’ West Coast, sources told Fastmarkets on Tuesday.
Bids were heard at $485-490 per tonne cfr Taiwan. Some market participants said that there were rumors about bids for containerized scrap imports at $490-495 per tonne cfr Taiwan.
Containerized cargoes from the US West Coast were offered at $490-500 per tonne cfr Taiwan on Tuesday.

“We expect the Taiwan market to...


Lee Allen

Tianran Zhao

October 26, 2021

12:15 GMT