Taiwan's domestic scrap market prepares for higher demand

  • Thursday, 23:17 27/09/2018 .
  • Taiwanese mills were preparing for higher production in the month of October, coming out of the summer electricity price hike which was implemented from June to September, market sources said.

    Currently, domestic scrap buying prices for major Taiwanese mill Feng Hsin Iron and Steel are prevailing at TWD10,800/mt ($351.9/mt) this week, a source from the mill said, after returning from the mid-autumn festival holiday.

    Taiwan's crude steel production has reflected a positive growth of 1.0% on year, figures from the World Steel Association showed.