S&P Global
Date: 03 Aug 2018
By: Samuel Chin
Editor: Jeremy Lovell
Singapore — Containerized heavy melting scrap prices to Taiwan fell further this week on lower US offers, Taiwanese market sources said Friday.
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S&P Global Platts TSI HMS 1/2 80:20 containerized scrap on a CFR basis was assessed at $325/mt Friday, down $5/mt from a week ago.
Deals were concluded for containerized US-origin HMS 1/2 80:20 at $325/mt CFR Taiwan late week, down from early week deals heard at $327/mt CFR, market sources said.
“Offers were coming in the range of $325-$330/mt (CFR Taiwan) for US 80:20 this week,” a source from a Taiwanese steelmaker said.
“The weaker Turkey market has been rubbing off on US suppliers, and it seems US bulk offer prices are also weakening,” a regional trader said.
“This is on top of weaker buying interest from Vietnamese buyers, for container shipments,” the source added, relating to the stricter inspections implemented at the Vietnam boarders and ports, as reported by Platts. [FULL STORY]
