Driven by the rebounded scrap prices in global market, Taiwan''s scrap purchasing prices are expected to rise by TWD 200 to TWD 300 per tonne next week in Taiwan domestic market.
It is known that the prices of the US container HMS scrap 1:2 (80:20) have reached USD 460 per tonne C&F, which is about TWD 14,000 per tonne. Furthermore, it seems the import prices might keep going up in the coming weeks.
However, the prices of Taiwan origin''s high quality scrap are only about TWD 13,600 to TWD 13,900 per tonne, which are lower than the import prices level.
Consequently, it has caused most Taiwan''s scarp stockiest have no willing to release their scrap source at this moment.
For instance, one of Taiwan''s electric furnace mills could get 5,000 tonnes scrap per day in regular; however, they can only collect about 50% volume from domestic market recently.
In order to get more scrap sources, it’s predicted that Taiwan''s mills would have to raise their scrap purchasing price in next week.
( source: www.yieh.com )