Taiwan’s ferro alloys imports dropped by 37% m-o-m to 25,960 tonnes (t) in August 2022. The significant decline is primarily due to low demand as a result of steel production cuts in the country. Furthermore, the continued depreciation of the national currency against the US dollar in the month increased the costs of imported raw materials for steel mills, resulting in lower imports.
In January-August 2022, cumulative imports fell by 8% to 318,001 t compared to 345,100 t in the corresponding period last year (CPLY).
Sub-commodity wise imports
- Silico manganese: Imports rose by 4% m-o-m to 7,917 t in August. The major exporting countries were India (3,623 t), Malaysia (2,461 t) and China (1,525 t). However, imports increased by 6% y-o-y to 81,409 t in January-August 2022.
- Ferro manganese: Imports of ferro manganese decreased by 17% m-o-m to 6,886 t in August. The largest exporter was Malaysia at 5,776 t followed by India at 510 t. Meanwhile, imports fell by 17% y-o-y to 61,361 t in January-August.
- Ferro silicon: Ferro silicon imports also saw a drop of 34% m-o-m to 7,477 t in August. Major exporters were China (5,602 t), Norway (1,163 t) and Malaysia (300 t). During January-August, import volumes stood at 59,557 t, down 14% y-o-y.
- Ferro chrome: Ferro chrome imports fell sharply by 74% m-o-m to 3,680 t in August. India was the largest exporter at 1,999 t followed by Russia at 1,080 t. Imports stood at 115,674 t in January-August, a decline of 8% compared to the same period last year.
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