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Taiwan's stainless steel scrap price hikes due to limited supply

10 Nov 2020 13:44 reported by Euphie Xiao

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The reduction of scrap sources and increasing scrap costs made Taiwan's domestic stainless steel scrap prices rise along with rising nickel prices and finished product prices.

Affected by the epidemic in the first half of 2020, demand for raw materials and finished products was less. However, as the demand for steel in various industries resumed, Taiwan's stainless steel prices have shown an upward trend for 7 consecutive months. In order to make up for previous losses, steel mills have continuously adjusted upwards. At the same time, scrap suppliers also increased prices as the sources of scrap have decreased.

Some suppliers said that stainless steel scrap was the same as carbon steel scrap. Affected by the epidemic, the source of scrap will decrease and the cost of collecting inventory will increase. Therefore, the price must be appropriately reflected in the market and the quotation must be raised.

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