Taiwan world’s one of the major scrap importer has witnessed marginal fall of 9% M-o-M in ferrous scrap imports in Feb’18. As per recently released customs data, Taiwan imported 195,155 MT ferrous scrap in Feb’18 as against 214,866 MT recorded in Jan’18.
On yearly premises, ferrous scrap imports in Feb’18 remained almost stable as against 199,374 MT in Feb’17.
During Jan-Feb’18, Taiwan imported 410,021 MT ferrous scrap, up 6% as against 387,077 MT ferrous scrap imports recorded during the same period last year.
Imported scrap prices in Taiwan remained high during Jan-Feb’18 –
Taiwan witnessed a sharp hike in imported scrap prices in Jan’18 amid tightened supply and strong global demand. The monthly average import price for USA origin HMS (80:20) moved up to USD 350/MT, CFR in Jan’17 as against USD 325/MT in Dec’17. Although average price in Feb’18 fell down to USD 335/MT, CFR, however, it remained on the higher side as compared to the buyers expectations. Over which importers in Taiwan kept away from importing scrap in large volumes.
United States remained largest ferrous scrap supplier to Taiwan –
In Feb’18, United States exported highest 101,906 MT ferrous scrap to Taiwan registering 11% M-o-M plunge against 114,311 MT exports in Jan’18. Other prominent exporters like Japan and Australia exported respectively 13,991 MT (up 52% M-o-M) and 12,476 MT (up 9% M-o-M) ferrous scrap in Feb’18 to Taiwan.
During Jan-Feb’18, United States exported 216,217 MT ferrous scrap occupying highest 53% share. Followed by Australia (6%), Japan (6%), Canada (5%) and Dominican Republic (5%) respectively.
Fall in scrap imports in Feb’18 also could be attributed to the less clarity on the impact of USA import tariffs. According to sources, Taiwan has already strived for including it to the exclusion list of the USA Section 232’s 25% tariff and recently it has launched an investigation into steel imports from China. According to the US Department of Commerce, Taiwan ranks ninth largest exporter of steel to USA. US imports predominately flat products from Taiwan (0.69 MnT in CY17), which ranks fifth in the top suppliers of flats to USA.
Taiwan witnessed marginal fall in crude steel output in Feb’18 – According to the data released by World Steel Association, crude steel production in Taiwan stood at 1.81 MnT in Feb’18 which fell marginally by 3% M-o-M as compared with output in Jan’18.
In Feb’18, Billet imports in Taiwan remained almost stable at 0.24 MnT in line with imports in Jan’18.
Country-wise Taiwan ferrous scrap imports –
| Country | Feb’18 | Jan’18 | M-o-M % Change | Feb’17 | Y-o-Y % Change | Jan-Feb’18 | Jan-Feb’17 | % Change |
| United States | 101,906 | 114,311 | -10.85% | 100,753 | 1.14% | 216,217 | 184,024 | 17.49% |
| Australia | 12,476 | 11,412 | 9.32% | 12,901 | -3.29% | 23,888 | 22,850 | 4.54% |
| Japan | 13,991 | 9,190 | 52.24% | 31,277 | -55.27% | 23,181 | 72,534 | -68.04% |
| Canada | 10,000 | 10,393 | -3.78% | 5,043 | 98.29% | 20,393 | 11,583 | 76.06% |
| Dominican Republic | 9,253 | 9,932 | -6.84% | 10,409 | -11.11% | 19,185 | 18,826 | 1.91% |
| Others | 47,529 | 59,628 | -20.29% | 38,991 | 21.90% | 107,157 | 77,260 | 38.70% |
| Total | 195,155 | 214,866 | -9.17% | 199,374 | -2.12% | 410,021 | 387,077 | 5.93% |
Quantity in MT,
Source: SteelMint Stats
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