Taiwan, one of the leading ferrous scrap importers witnessed a significant increase in Mar’19 on account of sharp rise in scrap imports recorded from top two suppliers USA & Japan. The country imported 281,782 MT ferrous scrap in Mar’19 as against 142,778 MT recorded in Feb’19, witnessing a growth of 97% M-o-M, the recent data released by the customs department showed.
Country-wise – USA remained the largest scrap supplier to Taiwan in Mar’19 as it exported 147,203 MT ferrous scrap occupying a share of 52% in total imports, rising by 132% M-o-M from 63,451 MT in Feb’19. Demand from Taiwanese steel mills increased sharply for US scrap amid low stocks & supportive finish steel margins.
Japan remained at the 2nd largest supplier position and exported 53,510 MT, rising 172% M-o-M as against to 19,646 MT in Feb’19 with 19% share. Other top scrap suppliers to Taiwan were Hong Kong (12,200 MT, up 5% M-o-M) and Dominican Republic (13,193 MT, up 52% M-o-M) with 4% and 5% of share respectively.
Taiwan’s ferrous scrap imports in Feb’19 had reached 40 month low amid a sharp increase in containerized scrap prices. US origin HMS 80:20 prices increased by around USD 25-30/MT to USD 295-300/MT, CFR following the global trend in Feb’19 against levels reported at USD 270/MT, CFR Taiwan in Jan’19. Also, dull finish steel demand continued as the country observed a slowdown in production on account for Chinese Lunar New year holidays in Feb’19.
However, activities picked up after lunar holidays as prices stabilized and steel mills started restocking of scrap leading to almost doubling of imports in Mar’19.
On yearly premises, scrap imports witnessed a decline of 27% Y-o-Y as against 466,173 MT in Mar’19. It imported 682,884 MT ferrous scrap over the first quarter of CY19, observing a decline of 5% Y-o-Y against 718,543 MT in Q1’CY18 while imports dropped 26% Q-o-Q, as against 919,278 MT in Q4 CY’18.
Countrywise Taiwan ferrous scrap imports Q1’2019 –
| Country | Q1 CY’19 | % Share in total imports | Q4 CY’18 | % Change Q-o-Q |
| USA | 362,610 | 53% | 442,036 | -18% |
| Japan | 88,943 | 13% | 62,490 | 42% |
| Hong Kong | 41,573 | 6% | 61,758 | -33% |
| Dominican Republic | 33,810 | 5% | 47,848 | -29% |
| Others | 155,948 | 0 | 305,146 | -49% |
| Total | 682,884 | 100% | 919,278 | -26% |
Quantity in MT,
Source: SteelMint Stats
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