Taiwan: Ferrous Scrap Imports Surge 41% Y-o-Y in April

As per recent customs data, Taiwan has imported 270,299 MT ferrous scrap in Apr’18. The country witnessed a significant surge of 41% Y-o-Y as against 192,317MT recorded in Apr’17.

According to customs data maintained with SteelMint, Taiwan’s ferrous scrap imports were recorded 19 months high in Mar’18. On monthly premises, Taiwan witnessed fall in scrap imports by 12% M-o-M in April as against 308,522 MT scrap imports recorded in Mar’18.

Imported scrap prices in Taiwan fell by USD 20-25/MT in Apr’18 – Taiwan witnessed a rise of USD 23/MT in monthly average imported scrap prices in Mar’18. The monthly average import prices for USA origin HMS (80:20) moved up to USD 358/MT, CFR in Mar’18 as against USD 335/MT in Feb’18. However, average prices came down again to USD 335/MT levels in Apr’18. High global scrap prices could have resulted in a slowdown in Taiwanese scrap purchases in April. However, buyers remained inclined towards USA bulk scrap imports.

United States remained largest ferrous scrap supplier to Taiwan – In Apr’18, United States exported highest 125,560 MT ferrous scrap occupying 46% share in total scrap imports to Taiwan. Other prominent exporters were Australia (39,426 MT), Japan (26,688 MT), Hong Kong (15,160 MT) and Canada (10,983 MT) occupying 15%, 10%, 6% and 4% respectively to Taiwan.

In Apr’18, Taiwan witnessed fall in billet imports and finish long exports by 15% and 40% M-o-M. While the country recently started preliminary anti-dumping and countervailing investigations into imports of carbon cold-rolled (coil/sheet) and stainless hot-rolled steel from China.

Taiwanese scrap imports surge 24% Y-o-Y during Jan-Apr’18 – Taiwan imported 0.99 MnT ferrous scrap in during Jan-Apr’18 as against 0.80 MnT during Jan-Apr’17. The rise in ferrous scrap imports in Taiwan could be attributed to increasing in scrap purchases and increasing EAF crude steel production.

USA remained the largest supplier to Taiwan in first four months of CY18 occupying 48% share. US exported 0.48 MnT, up 26% Y-o-Y as against 0.38 MnT exports during the same period last year followed by Australia (0.08 MnT, +60% Y-o-Y), Japan (0.07 MnT, -50% Y-o-Y), Hong Kong (0.05 MnT, +67% Y-o-Y) and Canada (0.04 MnT, stable Y-o-Y) respectively.

Taiwan crude steel output decreased 14% Y-o-Y in Jan-Apr’18 – According to the data released by World Steel Association, crude steel production in Taiwan stood at 6.77 MnT as compared to 7.69 MnT recorded during Jan-Apr’17. Decreasing iron ore imports (down by 15% Y-o-Y during Jan-Apr’18) in the country could be attributed to decreasing blast furnace route steel production. However, EAF based crude steel production is increasing with rising scrap imports in Taiwan.

Country-wise Taiwan ferrous scrap imports –

Quantity in MnT,
Source: SteelMint Stats