WEEKLY: Asian scrap prices dip further on virus impact
Mar 31, 2020 17:30
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Prices of steel scrap across many regions in Asia continued to edge down over the week of March 20-27 amid the ongoing impact of COVID-19 across the world. For example, in Taiwan, the landed price for imported HMS 1&2 (80:20) scrap decreased for a fourth week by another $6/tonne on week to $212/t CFR as of March 27, according to Mysteel’s latest survey.
However, Feng Hsin Steel, Taiwan’s largest rebar producer
headquartered in Taichung, Central Taiwan, decided to roll over its procurement
price for locally sourced scrap over March 23-27 to monitor market changes in
the global scrap market, as reported.
“Taiwan’s scrap sellers are trying to offload scrap
products as quickly as possible, in case of further