TAIPEI (Scrap Register): Prices for Taiwanese containerized HMS # 1&2 80:20 imports advanced by 5.4 percent to $252 a ton during the month of December last year, as per the latest figures from The Steel Index.
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The start of December saw scrap prices rise as Chinese steel futures made strong gains. Imported containerized scrap saw a $13 a ton rise between the start of the month and December 12, where it hit $253 a ton.
The price remained unchanged for the remainder of the month. Increased volatility on the Chinese futures pushed many mills to the side-lines as they waited to see which direction prices would move in.
Domestic scrap supply in Taiwan remains stable, with mills having healthy inventories to see them well into the New Year. Mills have withdrawn from the market, with demand stable, and no pressure for the mills to purchase, leaving the market quiet.
(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to firstname.lastname@example.org)