Import prices for containerized ferrous scrap in the key Taiwanese market slid further this week amid soft end-user demand, sources said on May 28. Fastmarkets’ daily price assessment for containerized steel scrap, heavy melting scrap 1&2 (80:20), United States material import, cfr main port Taiwan was $450 per tonne on Friday May 28, unchanged from Thursday but down by $15-20 per tonne from $465-470 per tonne on May 21. Offers were initially made at $470 per tonne cfr Taiwan at the start of this week, but bearish sentiment in the domestic downstream steel market in Taiwan as well as the regional ferrous supply chain resulted in prices being negotiated lower and lower.
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