Prices for containerized Taiwanese imports of HMS #
1&2 80:20 advanced further by $7 a ton to $232 a ton CFR Taiwan port in the
week ended March 20, as per the latest figures from The Steel Index.
The main reason behind this rise is the resumption of
Japanese scrap buying by Korean mills, leading to a shortage of material
available to Taiwanese buyers.
With the cheaper Japanese scrap no longer plentiful,
deals were concluded at higher levels. There remains a significant bid-offer
gap, however, meaning both buyers and sellers have been unwilling to commit to
large quantities.
As far as sellers are concerned, a tight supply
will lead to
higher prices, whereas buyers continue to point to low iron ore prices
and weak global demand as reasons for the price to stay low.
Source- Metal prices.com