Bookings of containerized HMS I/II (80:20) scrap from the US into Taiwan dipped slightly to around $358/mt CFR this week, trading sources said Thursday.
Bookings peaked at around $362/mt CFR last week, with a majority of buys at $360/mt. Offers peaked as high as $363/mt last week, but quickly retreated.
The Platts daily assessment for US containerized HMS 80:20 inched down $2 to $331-336/mt FAS Port of Los Angeles Thursday.
The softening in container prices to Taiwan reversed a month-long trend of steady increases fueled by tightening flows. However, US suppliers conceded that prices a week ago were likely peaking based on declining iron ore prices.
The US West Coast bulk market remained quiet, as did the East Asian import market, with regional mills still preferring to stay on the sidelines.
A leading Korean mill was heard to have purchased 50,000-60,000 mt of Russian A3 grade scrap at $375-377/mt CFR for July-August shipment. A regional trader believed this was done with the intention of bidding down Japanese scrap prices.
Last week, a Vietnamese mill booked one full bulk HMS cargo from South Africa at $385/mt CFR.
This same mill was heard to have secured a bulk cargo from Australia at $385/mt CFR 80:20 basis during the week of June 13.
