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US scrap suppliers intends to delay quotes to Taiwan
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Reportedly, the US scrap suppliers intend to delay or postpone the quotes to Taiwan this week as Taiwanese buyers’ bid prices are too low to be accepted and the Asian scrap market is rebounding.
This week, the rebar prices drop to NT$18,500/ton in the Taiwanese domestic market. Therefore, the Taiwanese steel mills were looking for low-priced scrap imports to avoid the loss.
Last week, the transaction prices of the US container HMS 80:20 (1&2) to Taiwan were at US$375~US$378/ton C&F.
It’s said that the Taiwanese steel mills intend to purchase the US scrap with the price level of US$375~US$378/ton C&F this week; however, the quotes of the US scrap have increased to US$380/ton C&F this week.
News Date
7/11/2012 1:04:12 PM
reported by
Nann Cheng
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