Taiwanese scrap prices are expected to drop during July this year. Inventory levels at rebar distributors and stockists in Taiwan are said to be high, with few new purchases required in the next few weeks.
This may serve to apply downward pressure on scrap pricing in July, with little scrap material required going forward.
However, when buyers do return to the market, they may find that they will have to inch their offers up in the face of an expected rise in US domestic scrap pricing.
According to TSI, prices for containerized Taiwanese scrap imports rose steadily throughout June, but corrected slightly in the last week of the month. The monthly average for June was up 2.7% on May.