Taiwanese steelmakers have shifted their buying focus to Japanese bulk H1&H2 (50:50) scrap due to the shortage of containerized heavy melting scrap (HMS) 1&2 (80:20) from the United States West Coast.
Offers rose from $460-465 per tonne cfr Taiwan in midweek to $465-468 per tonne cfr Taiwan on Friday, September 3rd.
Earlier in the week, a 5,000-tonne cargo for October shipment was settled at $465 per tonne cfr Taiwan, but such a price level was no longer available on Thursdays and Fridays.
“To obtain any bulk Japanese scrap, buyers will need to bid at least $472 per tonne cfr Taiwan,” a buyer source said.
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