It's reported that Indonesia's purchasing prices of the foreign scraps have remained high recently in spite of the fact that the scrap prices have dropped in the international market.
At present, the Indonesian buyers purchase the US HMS 80:20 (1&2) with high prices of US$380/ton FOB.
Dealer pointed out that Indonesia's high purchasing prices of the foreign scraps are boosted by scrap shortage and jumping rebar prices in local market.
However, it's expected that the prices would slide in the near future due to falling scrap prices in international market.
Meanwhile, it's known that Taiwanese steel mills' purchasing prices of the US HMS 80:20 (1&2) are at US$360~US$363/ton C&F currently, falling from the previous high level of US$380/ton C&F.