Taiwan one of the world’s major scrap importer has witnessed a marginal fall by 5% M-o-M in ferrous scrap imports in Jan’18 as against imports in Dec’17. As per recently released customs data, Taiwan imported 0.21 MnT ferrous scrap in Jan’18 as against 0.22 MnT in Dec’17.
On yearly premises, ferrous scrap imports in Jan’18 registered 11% increase against 0.19 MnT in Jan’17.
Imported scrap prices in Taiwan increased by USD 25/MT in Jan’18 –
Taiwan witnessed a sharp hike in imported scrap prices in Dec’17 and Jan’18 months amid tightened supply and strong global demand. The monthly average import price for USA origin HMS (80:20) moved up to USD 325/MT, CFR in Dec’17 as against USD 300/MT in Nov’17. Average prices surged further to USD 350/MT, CFR in Jan’18.
Fall in scrap imports could be attributed to rising imported scrap prices and tightened supply in Jan’18. Also, Billet imports in Taiwan fell by almost half, from 0.51 MnT in Dec’17 to 0.24 MnT in Jan’18.
Notably, Taiwan witnessed its sixth consecutive fall in its yearly scrap imports in 2017 since 2011. In 2011, Taiwan recorded scrap imports above 5 MnT which significantly dropped at 2.67 MnT in 2017.
United States remained the largest ferrous scrap supplier to Taiwan –
In Jan’18, United States exported 0.11 MnT ferrous scrap registering 10% M-o-M increase against 0.10 MnT exports in Dec’17 to Taiwan. Other prominent exporters like Japan and Hong Kong exported each 0.01 MnT ferrous scrap in Jan’18 to Taiwan and registered almost 50% M-o-M fall against each of 0.02 MnT ferrous scrap exports in Dec’17.
Followed major suppliers like Australia, Canada, Philippines, Dominican Republic and South Korea observed stable scrap exports on monthly premises. These exporters supplied each 0.01 MnT ferrous scrap in Jan’18 stable as against exports in Dec’17 to Taiwan.
Over closure of induction furnaces, China’s scrap exports to Taiwan had increased sharply by almost eight folds in 2017. However, in Jan’18, China witnessed nil exports to Taiwan as against 0.01 MnT in Dec’17.
Taiwan witnessed stable crude steel output in Jan’18 –
According to the data released by World Steel Association, crude steel production in Taiwan stood at 1.96 MnT in Jan’18 which remained stable M-o-M compared with output in Dec’17.
Country-wise Taiwan ferrous scrap imports –
| Country | Jan’18 | Dec’17 | M-o-M % Change | Jan’17 | Y-o-Y % Change | 2017 | 2016 | % Change |
| United States | 0.11 | 0.10 | 10.00% | 0.08 | 37.50% | 1.16 | 1.27 | -8.66% |
| Japan | 0.01 | 0.02 | -50.00% | 0.04 | -75.00% | 0.37 | 0.82 | -54.88% |
| China | 0 | 0.01 | -100.00% | 0 | _ | 0.31 | 0.04 | 675.00% |
| Australia | 0.01 | 0.01 | 0.00% | 0.01 | 0.00% | 0.12 | 0.13 | -7.69% |
| Hong Kong | 0.01 | 0.02 | -50.00% | 0.01 | 0.00% | 0.13 | 0.14 | -7.14% |
| Others | 0.07 | 0.06 | 16.67% | 0.05 | 40.00% | 0.58 | 0.51 | 13.73% |
| Total | 0.21 | 0.22 | -4.55% | 0.19 | 10.53% | 2.67 | 2.91 | -8.25% |
Quantity In MnT,
Source: SteelMint Stats
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