TAIWAN STEEL SCRAP: Buyers fail to keep prices stable after increases in Turkey

Import scrap buyers in Taiwan failed to keep prices stable in the week to Friday October 23 after the bellwether market in Turkey reported price increases, sources said.

Fastmarkets’ daily price assessment for containerized cargoes of steel scrap, HMS 1&2 (80:20), US material import, cfr main port Taiwan was $275-280 per tonne on Friday, widening upward by $5 per tonne from the previous day and up by $5-10 per tonne from $270 per tonne on October 9.

Negotiations for containerized cargoes of heavy melting scrap 1&2 (80:20) from the United States West Coast were at $270-275 per tonne cfr Taiwan for the earlier part of the week before transactions were concluded at $273-275 per tonne cfr Taiwan by at least two major steel mills.

Negotiation levels later increased to $275 per tonne cfr Taiwan by Thursday and $275-280 per tonne cfr Taiwan by Friday, sources said,

“There are limited cargoes in the spot market now because many sellers are not offering materials,” a buyer told Fastmarkets on Friday October 23.

Sellers maintained their offers at $275-280 per tonne cfr Taiwan for most of the week and refused to lower prices due to the bullish sentiment in the spot market.

“Turkey is back in the spot market and buying up materials at higher prices compared to weeks past,” a trader in Taiwan told Fastmarkets on Wednesday October 21.

Turkish steel mills purchased multiple cargoes, at the least, this week from the Baltic Sea and Europe at $287.50-291 per tonne cfr Turkey, compared with $279.50 per tonne cfr Turkey on October 8.

Offers for bulk cargoes of Japanese H1&H2 (50:50) were at $295 per tonne cfr Taiwan in the first part of the week, with two transactions at $288 per tonne cfr Taiwan on Monday or Tuesday, including at least one 6,000-tonne cargo.

There was a transaction reported at $295 per tonne cfr Taiwan on Thursday for a 3,000-tonne cargo.

Negotiation levels increased to $295-300 per tonne cfr Taiwan by Friday, although there were no transactions heard concluded, sources said, adding that offers were at $300-305 per tonne cfr Taiwan.

What to read next
Explore the current trends in the wood market as prices for framing lumber continue to decline amidst economic uncertainty.
The US-UK trade deal removes Section 232 tariffs on British steel and aluminium, reduces automotive tariffs and sets a framework for addressing global trade issues.
MB-STE-0926 Green steel, differential to steel reinforcing bar (rebar) domestic, delivered Northern Europe, €/tonne was initially incorrectly input within the range of €30-40 per tonne. The correct differential is €20-40 per tonne. MB-STE-0925 Green steel base price, reinforcing bar (rebar) domestic, delivered Northern Europe, inferred, €/tonne was incorrectly input at €685-720 per tonne. The correct inferred price is €675-720 […]
Ford Motor Company will offset $1 billion of an expected $2.5 billion exposure from tariffs and remains "on track and within our original full-year guidance range of $7 billion-8.5 billion" in operating earnings for 2025, Jim Farley, president and chief executive officer, said during the automaker's first-quarter earnings call on Monday March 5.
Here are the key takeaways from market participants on US ferrous scrap metal prices, market confidence, inventory and more from our May survey.
The MB-SN-0011 rationale mistakenly read “The tin grade A min 99.85% ingot premium, ddp Midwest US, was $1,550-1,660/t on Tuesday May 6, unchanged week on week.” This has been corrected to read “The tin grade A min 99.85% ingot premium, ddp Midwest US, was $1,550-1,660/t on Tuesday May 6, unchanged since March 4.” Fastmarkets’ pricing database has […]