Taiwan: Finished flat steel exports hit over 5 years low in May’20

As per the data maintained with SteelMint, Taiwan’s finished flat export volumes hit over 5 years low in May’20 at 648,660 t. The previous lowest was last witnessed at 556,493 t in Dec’14.

In May’20, the nation’s finished flat exports fell by 2% m-o-m basis as against 663,775 t a month ago and fell by 9% on a yearly basis over 716,507 t in May’19.

Country-wise exports in May’20-

— Taiwan’s finished flat export fell significantly by 29% to Vietnam and stood at 84,612 t and to the USA steeply declined by 33% at 35,864 t in May’20.

— Meanwhile, exports to China remained largely stable at 77,383 t in May’20 as compared with 77,505 t in the previous month. Exports to Japan fell marginally by 4%, and stood at 82,983 t during the month.

Finished long-

— The nation’s finished long exports declined by 9% on the month to 46,547 t in May’20 when compared with 51,408 t in the previous month.

— On the yearly basis, the nation’s finished long exports witnessed a significant fall by 39% in May’20 as compared to 76,541 t in May’19

Country-wise export in May’20-

— The nation’s finished long exports to Hong Kong fell steeply by 52% to 6,431 t in May’20 in contrast with 13,432 t in Apr’20. In similar lines, exports to Vietnam fell drastically by 53% on the month to 3,323 t in May ’20.

Other major importers include Australia at 7,451 t and South Korea 6,950 t in May’20.

On a yearly basis, the nation’s finished long exports witnessed a significant fall by 39% in May’20 as compared to 76,541 t in May’19.

Reasons behind the fall in exports volumes

— Competitive offers from countries like India and Russia to the Southeast Asian countries weighed on the nation’s export volumes since Mar’20.

— Lockdown and related measures in various nations to contain the spread of the virus hindered the trade and logistic activities.

Source: SteelMint Research