Global scrap price has started to plunge since September because of lower demand..

American 80:20 container scrap price has dropped by US$50/ton. Taiwan’s steel mills plan to purchase the Japanese H2 scrap recently because the Japanese scarp price is lower than Taiwan’s scrap price and the delivery time is shorter.

The domestic buyers would like to buy overseas material to stock up at this moment. Besides, China has also started to renegotiate the scarp price with America and will purchase if America accept their bid price.

Source: Yieh.com