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WEEKLY: Asian scrap market prices keep stable

Steel scrap prices in many parts of Asia remained stable over the week of May 15-22, despite the recent rise in Turkish scrap prices, according to Mysteel’s latest weekly survey. In Taiwan, the landed price of imported HMS 1&2 (80:20) nudged up by a tiny $1/tonne on week to $223/t CFR as of May 22.
At the same time, Feng Hsin Steel, Taiwan’s largest rebar producer, decided to roll over its buying price for locally sourced scrap for a third consecutive week over May 18-22, keeping this at TWD 7,000/t ($233.3/t). Consumption of scrap in Taiwan is seen weakening over the coming few months as

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