It is reported that a large size scrap supplier in the US offered the container HMS 80:20 quotes at USD 480 per tonne CNF to Taiwan yesterday, much higher than USD 470 per tonne CNF previously forecasted by the market participants.

It is known that the US steel mills hiked the scrap prices by USD 30 to USD 50 per tonne in the domestic market after Christmas and New Year holiday, pushing up scrap export prices.

However, the sharply surged scrap prices were unfavorable to Taiwanese steel mills.

(Sourced from www.yieh.com)