Bids for imported ISRI grade scrap into Taiwan fell slightly during the week, largely due to a depressed domestic market for finished long products.
Orders for the finished product were muted, forcing mills to lower their buying prices for domestic scrap, and imported grades. The index for Taiwanese containerized scrap fell $1 a tonne on the week to close at $249 a ton.
Local mills feel that domestic market conditions are unlikely to improve in the near term and are braced for on-going weak demand for steel products.
(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to firstname.lastname@example.org)