Taiwan: Ferrous Scrap Imports from USA Down 19% in July

As per recent customs data, Taiwan world’s one of the leading scrap importers has observed fall in scrap import volumes in July’18 after recording two successive increase in monthly scrap imports since Apr’18. Taiwan imported 295,080 MT ferrous scrap in Jul’18, down 12% M-o-M as against 335,694 MT ferrous scrap in Jun’18. Top two suppliers USA and Japan witnessed 19% and 22% M-o-M fall in scrap exports to Taiwan in Jul’18.

According to customs data maintained with SteelMint, Taiwan’s ferrous scrap imports hit 2 years high in Jun’18 after which imports turned down on sluggish finish steel demand in Jul’18. On yearly premises, the country witnessed marginal decline in scrap imports by 3% Y-o-Y in Jul’18 as against 303,463 MT scrap imports recorded in Jul’17.

Imported scrap prices in Taiwan edged up marginally in July – Taiwan witnessed slight upward movement by USD 4-5/MT in monthly average imported scrap price for USA origin HMS (80:20) to USD 337/MT levels in Jul’18 which was recorded at USD 332/MT, CFR in Jun’18. Taiwanese scrap purchases slowed down owing to sluggish finish steel demand in the country and buyers remained less inclined towards USA bulk scrap imports.

United States remained largest ferrous scrap supplier to Taiwan – United States exported highest 117,396 MT ferrous scrap occupying 40% share in total scrap imports to Taiwan. Second largest supplier Japan supplied 63,228 MT ferrous scrap occupying 21% share in Jul’18. Notably, USA witnessed fall of 19% M-o-M in July as against 144,978 MT in Jun’18 while Japan recorded 22% fall as against 80,543 MT in Jun’18.

Followed by other prominent exporters were Hong Kong (15,845 MT, +2% M-o-M), Canada (10,468 MT, -11% M-o-M), Dominican Republic (10,412 MT, +32% M-o-M), South Korea (9,543 MT, +39% M-o-M) and Australia (8,536 MT, -21% M-o-M).

The country witnessed a marginal rise in finish flat exports by 7% M-o-M in Jul’18 to 784,260 MT while finish long exports surged 71% M-o-M to 81,134 MT in Jul’18.

Taiwan imported 1.95 MnT ferrous scrap during first seven months of CY18 as against 1.69 MnT during same period last year witnessing 15% Y-o-Y increase. This could be attributed to rising scrap purchases, rising finish steel exports and increasing EAF based crude steel production as compared to last year in the country.

Taiwan’s crude steel output stable during Jan-Jul’18 – According to the data released by World Steel Association, crude steel production in Taiwan stood at 13.46 MnT during Jan-Jul’18 as against 13.32 MnT recorded during Jan-Jul’17. On the other hand, iron ore imports dropped 10% Y-o-Y during Jan-Jul’18 leading to marginal fall in blast furnace route steel production of the country.

Country-wise Taiwan ferrous scrap imports –

Quantity in MnT,
Source : SteelMint Stats