Reportedly, the customs duties for Taiwan’s exports of tool machine to China have declined to 6% from January 1st, 2011, according to the agreement of Free Trade Agreement (FTA).

To support the strong demand, it’s predicted that the prices of mini blast furnace (MBF) scrap would have chance to soar to NT$17,000/ton.

Industry sources indicated that foundry dealers have increase the purchase prices of scrap due to the strong demand.