Driven by Asian buyers’ active purchase, the prices of scrap in Western America increased this week.

Recently, Asian steel mills returned to market to purchase scrap to increase production as the restrictions on electricity use will be lifted in September.

At present, the prices of container HMS 80:20 (1&2) have been up to US$440~US$445/ton FOB in Western America, up by US$5/ton.

Accordingly, it’s estimated that its latest export quotes of container HMS 80:20 (1&2) to Taiwan would jump to US$475~US$480/ton C&F

Industry sources predicted that the scrap prices may have chance to hike further in next week.