Imported ferrous scrap prices in Taiwan inched up on higher offers. Limited trades were reported amid ongoing rainy season and weak finished steel sales. June steel production in Taiwan reports a seasonal dip.  The index for containerised US-origin HMS 1&2 (80:20) rose by $2/mt to $230/mt cfr Taiwan.


US-origin HMS 1&2 (80:20) was offered at $235/mt cfr Taiwan with a deal heard at $230. Mills in Turkey booked actively. The index for HMS 1&2 (80:20) index prices increased by around $1/mt to $252.91/mt cfr Turkey from Thursday.


Deals for Australian HMS 1&2 (80:20) were heard at $220/mt cfr Taiwan. Taiwanese steel mills continued bidding for lower-priced South American and Australian scrap to lower down the cost of production.


On May 27, Tokyo Steel raised its purchase prices for scrap in Japan, a major supplier country. Thus, small bulk offers are expected to go up in the coming week to Taiwan.


In small bulk markets, Japanese #2 HMS was offered at $245-250/mt cfr Taiwan and HMS 1&2 (50:50) traded at $250-255/mt cfr Taiwan. Higher grades like HS and busheling traded at $275-280/mt cfr Taiwan, up by $5-10/mt from the prior week. 

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