WEEKLY: Asian steel scrap prices keep stable

ABSTRACT
Steel scrap prices in many parts of Asia kept stable over the week of April 10-17. In Taiwan for example, the landed price for imported HMS 1&2 (80:20) scrap ended its five-week decline and stayed unchanged at $208/tonne CFR as of April 17, mainly thanks to the rebound in global scrap prices, Mysteel Global noted.

At the same time, the price recovery in the global scrap market boosted market sentiment in Taiwan, propellingmini-mills there to raise their buying prices for locally sourced scrap. For instance, Feng Hsin Steel, Taiwan’s largest rebar producer headquartered in Taichung, Central Taiwan, decided to lift its buying price for locally sourced scrap by