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WEEKLY: Steel scrap prices diverge in Asian market

Scrap prices generally weakened throughout Asia over the week of September 11-18, perhaps with the exception of Taiwan where landed scrap prices showed signs of strengthening, reflecting the keenness of Taiwan’s local buyers for stocking, according to Mysteel’s latest survey.
In Taiwan over September 14-18, leading rebar maker Feng Hsin Steel raised its buying price for locally sourced scrap by TWD 300/tonne ($10.3/t), as reported. In contrast, Mysteel’s steel scrap price index reversed down over September 11-18 by Yuan 22.2/t ($3.3/t) on week to Yuan 2,602.7/t on delivery and including the 13% VAT, mainly due


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