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Print[Ferro-Alloys.com] Reportedly, the Taiwanese steelmakers have cut the scrap prices further by NT USD 200~NT USD 300/ton on August 4th due to weak demand and dipped scrap prices in international market.
Also, the total price cut made by the Taiwanese steelmakers have reached NT USD 1,200~NT USD 1,300/ton over the past fifty days.
In fact, the scrap prices slumped by NT$700~NT$800/ton in the Taiwanese market last week due to poor market demand and plummeted iron ore prices.
It’s known that Feng Hsin, one of the major steel long product makers in Taiwan announced to reduce the scrap prices by NT USD 200/ton for this week on Monday; moreover, the firm announced to cut scrap prices further by NT USD 300/ton on August 4th. Therefore, Feng Hsin’s current scrap prices are at NT USD 10,800~NT USD 11,500/ton.
Accordingly, another steel mill in middle of Taiwan has also announced to decrease the scrap prices by NTU USD200/ton today.
Industry sources said that the scrap prices might drop further in the Taiwanese market in the near future as the international scrap prices have kept sliding recently and iron ore prices have slumped.
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