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

Imported ferrous scrap prices in Taiwan inched up on higher offers. Limited trades were reported amid ongoing rainy season and weak finished steel sales. June steel production in Taiwan reports a seasonal dip.  The index for containerised US-origin HMS 1&2 (80:20) rose by $2/mt to $230/mt cfr Taiwan.


US-origin HMS 1&2 (80:20) was offered at $235/mt cfr Taiwan with a deal heard at $230. Mills in Turkey booked actively. The index for HMS 1&2 (80:20) index prices increased by around $1/mt to $252.91/mt cfr Turkey from Thursday.


Deals for Australian HMS 1&2 (80:20) were heard at $220/mt cfr Taiwan. Taiwanese steel mills continued bidding for lower-priced South American and Australian scrap to lower down the cost of production.


On May 27, Tokyo Steel raised its purchase prices for scrap in Japan, a major supplier country. Thus, small bulk offers are expected to go up in the coming week to Taiwan.


In small bulk markets, Japanese #2 HMS was offered at $245-250/mt cfr Taiwan and HMS 1&2 (50:50) traded at $250-255/mt cfr Taiwan. Higher grades like HS and busheling traded at $275-280/mt cfr Taiwan, up by $5-10/mt from the prior week. 

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