Taiwan: Ferrous Scrap Imports Rise 26% in Sept’18 on Increased US Exports

As per recent customs data, Taiwan imported 286,941 MT ferrous scrap in Sept’18, up 26% M-o-M as against 227,585 MT ferrous scrap in Aug’18. Top supplier USA witnessed sharp rise of 80% M-o-M in scrap exports to Taiwan in Sept’18. On yearly premises, the country witnessed significant rise of 39% Y-o-Y in scrap imports in Sept’18 as against 205,709 MT ferrous scrap in Sept’17.

According to customs data maintained with SteelMint, the country imported 0.82 MnT ferrous scrap in Q3’CY18, down 13% Q-o-Q as against 0.94 MnT in Q2’CY18 while imports increased 5% Y-o-Y as against 0.78 MnT during Q3’CY17.

United States remained largest ferrous scrap supplier to Taiwan – United States exported highest 179,332 MT ferrous scrap in Sept’18 occupying 62% share in total scrap imports to Taiwan. Which observed an increase of 84% M-o-M as against 97,442 MT in August. Second largest supplier Japan supplied 18,089 MT ferrous scrap, down 50% M-o-M occupying just 6% share in Sept’18 amid sharply increased export prices.

Followed by other prominent exporters like Dominican Republic (13,888 MT), Hong Kong (9,584 MT), Canada (12,110 MT), Philippines (7,695 MT) and Australia (7,227 MT) witnessing almost stable exports on a monthly basis.

Imported scrap prices in Taiwan turned up in Sept’18 – Taiwan witnessed upturn by USD 10/MT in monthly average imported scrap prices in Sept’18. USA origin HMS (80:20) assessment stood at USD 330-331/MT levels which was recorded at USD 320-321/MT, CFR in Aug’18. Taiwanese scrap purchases lifted up despite rise in prices on sharp rise in finish steel demand in the country.

Country’s finish flat exports rose by 70% M-o-M to 863,053 MT in Sept’18 while finish long exports increased 58% M-o-M to 101,274 MT in Sept’18.

Taiwanese scrap imports up 14% Y-o-Y in Jan-Sept’18 – Taiwan imported 2.47 MnT ferrous scrap during first three quarters of CY18 as against 2.17 MnT during same period last year witnessing a rise of 14% Y-o-Y. Rising scrap purchases could be attributed to increasing EAF based crude steel production and rising finish steel exports as compared to last year in the country.

Taiwan’s crude steel output inch up during Jan-Oct’18 – According to the data released by World Steel Association, crude steel production in Taiwan stood at 19.24 MnT during Jan-Oct’18 as against 18.81 MnT recorded during Jan-Oct’17. On the other hand, iron ore imports dropped 10% Y-o-Y to 17.48 MnT during Jan-Sept’18 limiting blast furnace route steel production of the country.

Country-wise Taiwan ferrous scrap imports –

Quantity in MnT,
Source: SteelMint Stats