Taiwanese manufacturers exported a good amount of Finished flat, finished long and finished flat stainless steel on a yearly as well as monthly basis.
Detailed statistical overview is mentioned below:
Finished Flat- Taiwanese mills exported about 7,87,156 t in Jan ’21, up by 12% in comparison with 7,01,695 t in Dec ’20. Similarly, volumes increased by 11% from 7,08,538 t in Jan ’20 on a yearly basis.
Reasons driving exports volume-
1. Surge in global demand- Exports volumes from Taiwan shot up with most of the importing countries starting to loosen their restraints over COVID related measures and the downstream industrial activities from construction and automobile sector picking up.
2. Slower recovery of steel manufacturers in Japan- Japan being the major importer of steel from Taiwan, has been slow in returning to normal production capabilities which has led to a demand-supply gap. This has led to increased exports from Taiwan at 69,724 t in Jan ‘21, surging up by 36% m-o-m.
3. Reduced competition in overseas markets- Taiwanese mills have been facing less competition in the key export destinations like China, US and a few countries in Southeast Asia. Other nations like Russia and South Korea continued to focus on domestic demand while India remains active in the EU and Gulf Region over higher realizations.
Country-wise exports-
- During Jan ’21 China imported about 1,52,768 t up by 6% in comparison with 1,44,541 t in Dec ’20.
- Following this, exports to Malaysia were recorded at 78,275 t up by 32% m-o-m, while exports to US went up to 71,742 t in Jan ’21 as against 7,429 t a month back.
- However, exports to Vietnam dipped by 10% in Jan ’21 around 1,16,784 t in comparison with previous month volumes at 1,29,857 t in Dec ’20.
Finished Long- Taiwanese mills exported about 61,236 t of finished long in Jan ’21, up by 17% compared to 52,221 t in Dec ’20. Along with a y-o-y increase of 21% against 50,602 t in Jan ’20.
Country- wise exports- Long steel exports to Hong Kong slashed by 62% in Jan ’21 to 6,033 t in contrast with 15,694 t a month back. Export volumes to China and Vietnam dropped by 10% to 8,442 t and 11% to 5,022 t in Jan ’21 respectively. However, exports to Australia jumped up to 11,190 t in Jan ’21 as against 1,205 t in Dec ’20.
Finished Flat Stainless Steel- The export volumes went up to 81,952 t in Jan ’21 against 79,610 t in Dec ’20, increasing by 3% m-o-m basis and 24% y-o-y basis.
Country-wise exports- Taiwanese exports to Italy was around 5,794 t in Jan ’21 down by 38% against 9,349 t in Dec ’20. Exports to South Korea also dropped by 14% in Jan ’21 to 6,795 t against 7,928 t in Dec ’20. Other major importing nations were the United States, up by 39% to 5,919 t in Jan ‘21 while Turkey remained unchanged at 3,750 t.
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