Singapore—Taiwan's domestic heavy melting steel scrap prices fell to a seven-month low, as weak downstream demand continued to pressure mill sales, Taiwanese sources said. Major mini-mill Feng Hsin Iron and Steel lowered its domestic scrap buying price this week to T$8,600/mt ($273.80/mt) for HMS I/II 80:20 delivered to its Taichung mill, down T$200/mt from the previous week, a company source said Monday. The company last set a lower price on January 21 at T$8,400/mt. "The construction industry continues to suffer because of the poor weather," the company source said. "Our customers lack buying interest now because they're not using up stocks quickly enough."
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