Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Domestic scrap shortage and rising global scrap demand and offers made Taiwanese mills raise bids post holidays and annual maintenance. The Davis Index for containerized US-origin HMS 1&2 (80:20) rose by $19/mt to $407/mt cfr Taiwan on Friday. Some traders raised offers to $425/mt from $370/mt week prior. Trades heard at $400/mt cfr on Thursday and $415/mt cfr on Friday, up by $30-45/mt from prior week. 


Many traders are expecting a further increase in global scrap prices with strong demand from Turkey and China. Turkish purchase prices rose by $11/mt on Thursday to $420/mt cfr from prior Friday. 


In domestic, Feng Hsin raised ferrous scrap bids TWD500/mt($17.9/mt) on Wednesday. Domestic HMS 1&2 (80:20) price on Friday was at TWD10,900-11000/mt delivered Taiwan northern mills.



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