Taiwan’s finished steel exports for Mar ’21 has witnessed a surge across all segments both on a monthly and annual basis over strong economic growth and healthy downstream demand.
1. Finished Flat- Taiwanese mills exported 21% more finished flat products in Mar ’21 to 7,28,084 t in comparison with 6,02,844 t in Feb ’21. But however, the export volume declined on a yearly basis by 12% against 8,27,626 t in Mar ’20.
Country-wise exports-
- Export volumes to China, increased by 63% m-o-m basis to 1,27,077 t in Mar ’21 as against 77,824 t a month ago
- Export volumes to Vietnam, inched up by 45% to 93,690 t in Mar ’21 compared to 64,538 t a month ago
- Export volumes to Japan and the United States stood at 76,443 t and 48,805 t; up by 25% and 76% respectively on a monthly basis
- Meanwhile, exports to Malaysia dropped by 10% to 50,477 t in Mar ’21 compared to 55,946 t a month ago
2. Finished Long- Taiwan’s export of finished long raised by 50% m-o-m basis to 63,985 t in Mar ’21 as against 42,697 t in the preceding month. Similarly, the export volumes surged by 6% y-o-y from 60,479 t in CPLY.
Country-wise exports-
- Export volumes to Australia, surged by 62% on m-o-m basis to 16,248 t compared to 10,047 t in Feb ‘21
- Export volumes to China, spiked by 76% to 9,419 t in Mar ’21 as against 5,345 t in the previous month
- Export volumes to Thailand and Vietnam stood at 8,643 t and 5,332 t in Mar ’21, increasing by 56% and 29% respectively on a monthly basis
- Meanwhile, export volumes to Hong Kong declined by 44% to 3,175 t in comparison with 5,704 t a month ago.
SteelMint analyses various reasons of surge in exports-
a) Growth in automobile sector- Taiwan’s new vehicle registrations marked at 43,222 units in Mar ’21, up by 59% m-o-m basis against 27,174 units a month ago. Meanwhile, the same surged by 16% y-o-y against 37,279 units in CPLY, according to the data released by Directorate of Highways, Taiwan.
Further, during the three months of 2021 (Jan-Mar) the overall sales went up by 17% to 1,21,575 units against 1,04,046 units in the same period last year. The rise in sales is on the back of strong economic growth.
b) CSC reports increase in monthly sales in Mar ’21– China Steel Corporation (CSC), one of the major Taiwanese steel producers, has reported its Mar month’s carbon steel sales at 878,997 t, a 19% m-o-m increase compared to the sales in Feb at 736,343 t. This was majorly due to the recovery in the steel market. However, the company’s cumulative steel sales in the first quarter of CY ’21 totalled 24,90,000 t (2.49 mn t), down by 9% against 27,26,434 t in CPLY; CSC reported in its recent release.
3. Finished flat stainless steel- Taiwanese steel makers surged their exports by 11% m-o-m basis to 72,982 t in Mar ’21 as against 65,968 t in Feb ’21. Likewise, the same moved up by 5% y-o-y basis against 69,668 t in Mar ’20.
Country-wise exports-
- Export volumes to Italy and the United states, increased by 28% to 14,603 t and 6,621 t respectively in Mar ’21
- Export volumes to Belgium stood at 5,575 t in Mar ’21, up by 9% as against 5,122 t a month ago
- Meanwhile, exports to Turkey and Canada fell by 5% to 3,842 t and 15% to 3,125 t respectively in Mar ’21.
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