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Latin American scrap suppliers turn to sell materials to South Korea

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Recently, the Taiwanese buyers received fewer scrap quotes from the US suppliers due to low bid prices. Also, the scrap offers from Latin America are few.

Traders indicated that the scrap suppliers in Latin America have turned to sell materials to South Korea as South Korean buyers’ bid prices are higher.

Last week, the transaction prices of the US container HMS 80:20 (1&2) to Taiwan dropped to US$420/ton C&F. As a result, most of the US scrap suppliers would suspend the quotes to Taiwan rather than losing money to sell products.

Consequently, Taiwanese steel mills turned to purchase scrap from the suppliers in Latin America. However, the Latin American scrap suppliers are reluctant to offer quotes due to Taiwanese buyers’ low bid prices.

It’s known that the transaction prices of the Latin American container HMS 80:20 (1&2) to South Korea are at US$415~US$420/ton C&F, much higher than Taiwanese buyers’ bid prices of US$410/ton C&F.
News Date 16 Feb 2012 09:36:27 reported by Nann Cheng

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