Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Taiwanese steelmaker Feng Hsin Steel kept its ferrous scrap prices unchanged from the prior week as cold weather and rising COVID-19 cases has affected finished steel demand. Prices for HMS 1&2 (80:20) remained at TWD11,450/mt del South Taiwan mills. The country has also reported the first case of mutant South African COVID-19 strain, dampening the market sentiment.  


The steelmaker’s also kept its base price for rebar unchanged at TWD19,300-19,400/mt($689-692/mt) ex-southern mills. Most mills lowered bids by $5-10/mt from the prior wee kto $425-428/mt as finished steel demand declined.  


The Davis Index for containerized US-origin HMS 1&2 (80:20) settled at $435/mt, down by $5/mt from a day ago and by $16/mt cfr Taiwan from the prior Friday. Sellers kept offers unchanged at $435/mt, but buyers were unwilling to accept these levels. Offers for USWC HMS 1&2 (90:10) were heard at $438/mt cfr on Friday. 


Taiwanese have decided to observe price trends in the Japanese export market and Turkey’s seaborne purchases before booking more material. There were only a few fresh offers from US exporters amid container shortages and vessel delays, others focussed on clearing delayed orders. 



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