The prices for containerized Taiwanese imports of HMS # 1&2 80:20 down by $4 a ton week-on-week to $351 a ton in the week ended September 12, said The Steel Index.

According to TSI, Taiwanese EAF steel mills lowered their bids this week in the face of increased competition for finished steel sales from BOF-origin products.

The BOF-route products are currently undercutting the EAF-route products owing to low iron ore prices, meaning EAF mills are having to lower their scrap procurement costs in order to compete.

With Japan offering some of the most attractive scrap prices at the moment, Taiwanese steel mills have been booking material from there.

Source: Metal .com