Japanese scrap traders quoted high prices to Taiwanese buyers at the beginning of this week. For local steel factories in Taiwan, the price was too high to accept. It seemed like that the short-term Japanese scrap offers at a low price might be impossible to achieve in the Taiwanese market.

According to local steel factories, more and more buyers from Vietnam and South Korea attended the battle of grabbing Japanese steel scrap, which made the scrap price soar.

However, the factories also believed that according to experiences, the Japanese scrap prices might be adjusted if the buyers decided not to purchase at the moment and continue observing the market.