Taiwan steel exports statistics in Nov ’20

As per the data compiled by SteelMint, in Nov ’20, the export volumes of finished flat and finished long declined on monthly basis. On the other hand, finished flat stainless steel exports reported increase in Nov ’20.

The detailed overview is mentioned below:

1. Finished flat steel- In Nov ’20, the exports volume stood at 775,961 t, decreasing by 12% m-o-m against 880,290 t in Oct ’20. On the other hand, the same ascended annually by 19% in contrast with 653,424 t in Nov ’19.

Nation’s export volumes declined due to following reasons-

• Robust growth in automobile sector- Auto manufacturers in Taiwan reported steep hike of 16% in monthly sales volume in Nov ’20. As per data compiled by Taiwan’s Directorate of Highways, Nov month sales were at 46,332 units compared with 39,792 units a month ago. Thus, higher demand for flat steel in domestic market in turn resulted in lower exports volume during the month.

• Taiwanese HRC subject to registration on anti-dumping grounds in EU- In mid-Nov, the European Commission had subjected import of Taiwan origin HRC for registration; failing which there would be 4-8% anti-dumping duty. Thus, this hindrance in trade led to reduced imports from EU.
• Increased competition in Vietnam- Taiwanese exporters faced increased competition in Vietnam’s market from the domestic manufacturer Hao Phat, which commenced its commercial sales in Sep ’20. Also, Vietnamese importers were enticed by Chinese exporters offering at competitive prices.

Countrywise exports: Exports to China plunged by 40% to 171,065 t in Nov ’20 contrasted against 284,538 t in Oct ’20. Other major importing nations included Vietnam 93,438 t (down 24%), Japan 68,464 t (down 5%), and Malaysia 66,445 t (down 18%).

2. Finished long- The export volumes declined by 14% in the month of Nov ’20 to 55,039 t compared to 63,812 t in Oct ’20, and also dropped by 8% annually.

Country- wise exports: Long steel exports to Hong Kong slashed by 86% in Nov ’20 to 2,159 t in contrast with 15,506 t a month back. Also, export volumes to Australia dropped to 8,878 t in Nov ’20 contrasted against 14,793 t in Oct ‘20. Other major importing countries were China 7,939 t, Vietnam 6,262 t, and Thailand at 5,844 t in Nov ‘20.

3. Finished flat stainless steel- The exports volume moved up by 25% to 72,555 t in Nov ’20 as compared with 58,103 t in Oct ’20, and increased by 1% y-o-y basis.

Countrywise exports: Taiwanese mills majorly exported finished flat stainless steel to South Korea 9,468 t, United States 4,406 t, Italy 8,547 t, and Turkey 1,610 t in Nov ’20.