Taiwanese scrap demand among mills are likely to advance in the very first month of this year.
As per the Steel Index, Chinese Billet is now finding it harder to enter the Taiwanese market as a result of new regulations. Consequently, some mills which had placed billet orders might be short on raw materials to fulfil their orders and will soon be in the market looking to source scrap. Heading into January, this should mean scrap demand into Taiwan will increase.
The price of certain grades of scrap will be the key factor in determining the Taiwanese mills’ purchasing strategy, as they continue to keep a close eye on iron ore prices.
The prices for containerized Taiwanese scrap imports of HMS #1&2 80:20 fell by $5.05 a ton month-on-month, with December’s average at $283.20 a ton CFR Taiwanese port. The monthly average has now fallen for four consecutive months.
Zhejiang Yaang Pipe Industry Co., Limited