Taiwan: Ferrous Scrap Imports Down 23% in August

As per recent customs data, Taiwan imported 227,585 MT ferrous scrap in Aug’18, down 23% M-o-M as against 295,080 MT ferrous scrap in Jul’18. Top two suppliers USA and Japan witnessed 17% and 33% M-o-M fall in scrap exports to Taiwan in Aug’18.

According to customs data maintained with SteelMint, Taiwan’s ferrous scrap imports hit 2 year high in Jun’18 after which fell successively down since past two months on limited finish steel demand. On yearly premises, the country witnessed considerable fall in scrap imports by 14% Y-o-Y in Aug’18 as against 265,024 MT scrap imports recorded in Aug’17.

United States remained largest ferrous scrap supplier to Taiwan – United States exported highest 97,442 MT ferrous scrap (down 17% M-o-M) occupying 43% share in total scrap imports to Taiwan. Second largest supplier Japan supplied 44,732 MT ferrous scrap (down 33% M-o-M) occupying 20% share in Aug’18.

Followed by other prominent exporters were Dominican Republic (13,971 MT, +34% M-o-M), Hong Kong (12,178 MT, -23% M-o-M), Canada (5,890 MT, -44% M-o-M), Philippines (6,112 MT, -4% M-o-M) and Australia (5,939 MT, -30% M-o-M).

Imported scrap prices in Taiwan edged down in August – Taiwan witnessed slight downward correction of USD 7-10/MT in monthly average imported scrap prices in Aug’18. USA origin HMS (80:20) assessment stood at USD 320-321/MT levels which was recorded at USD 328-330/MT, CFR in Jul’18. Taiwanese scrap purchases slowed down owing to slow finish steel demand in the country.

Country’s finish flat exports fell down by 35% M-o-M to 506,702 MT in Aug’18 while finish long exports declined 21% M-o-M to 64,051 MT in Aug’18.

Taiwanese scrap imports up 11% Y-o-Y in Jan-Aug’18 – Taiwan imported 2.18 MnT ferrous scrap during first eight months of CY18 as against 1.96 MnT during same period last year witnessing a rise of 11% 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-Aug’18 – According to the data released by World Steel Association, crude steel production in Taiwan stood at 17.32 MnT during Jan-Aug’18 as against 17.02 MnT recorded during Jan-Aug’17. On the other hand, iron ore imports dropped 10% Y-o-Y to 15.50 MnT during Jan-Aug’18 limiting blast furnace route steel production of the country.

Country-wise Taiwan ferrous scrap imports –

Quantity in MnT,
Source: SteelMint Stats