Reportedly, the US has stopped offering the quotes of scarp due to the Thanksgiving holiday. The new quotes will be updated on this Thursday or next week after the holiday.
According to the traders, the US scrap price is expected to rise further in December due to the shortage.
It’s known that the US quotes of scrap was few in last week since the holiday was coming and the collection of scrap was difficult in winter.
It’s predicted that the prices of the US scrap in the domestic market would soar in December; thus, the exporter tends to delay the quotes.
Meanwhile, the quotes of the US HMS scrap 1&2 (80:20) to Taiwan in last week was about US$400~US$410/ton CFR. However, the prices were unfavorable to Taiwan's mills.
( source: www.Yieh.com )