Taiwan: Ferrous Scrap Imports Rise 31% in Q2 2018

As per recent customs data, Taiwan world's one of the leading scrap importers has imported 0.94 MnT ferrous scrap in Q2'2018, up 31% Q-o-Q as against 0.72 MnT imports recorded in Q1 2018. It imported 1,657,473 MT ferrous scrap during H1'18 as against 1,390,876 MT during H1'17 witnessing 19% rise in ferrous scrap imports in H1'18. This could be attributed to rising scrap purchases and increasing EAF based crude steel production as compared to last year in the country.

United States remained largest ferrous scrap supplier to Taiwan - USA remained the largest supplier to Taiwan in first half of CY18 occupying 47% share. US exported 0.78 MnT, up 22% Y-o-Y as against 0.64 MnT scrap exports during the same period last year followed by Japan (0.22 MnT, stable Y-o-Y), Australia (0.10 MnT, +25% Y-o-Y), Hong Kong (0.08 MnT, +60% Y-o-Y) and Canada (0.07 MnT, +40% Y-o-Y) respectively.

Taiwanese crude steel output decreased 12% Y-o-Y in H1'18 - According to the data released by World Steel Association, crude steel production in Taiwan stood at 10.14 MnT as against 11.51 MnT recorded during H1'17. Taiwan imported 11.81 MnT iron ore in H1'18, down by 7% Y-o-Y against 12.76 MnT during H1'17 this could be attributed to decreasing blast furnace route steel production.

According to customs data maintained with SteelMint, Taiwan's ferrous scrap imports have hit 2 years high in Jun'18. It imported 335,694 MT ferrous scrap in June as against 332,937 MT ferrous scrap in May'18. On yearly premises, it has witnessed rise in scrap imports by 9% Y-o-Y in Jun'18 as against 285,523 MT scrap imports recorded in Jun'17.

Imported scrap prices in Taiwan moved down marginally in June - Taiwan witnessed a fall of USD 8-10/MT in monthly average imported scrap prices for USA origin HMS (80:20) to USD 332/MT in Jun'18 which was recorded at an average price of USD 342/MT, CFR in May'18. Taiwanese scrap purchases remained firm owing to increased finish steel demand in the country and buyers remained inclined towards USA bulk scrap imports.

In Jun'18, United States exported highest 144,978 MT ferrous scrap occupying 43% share in total scrap imports to Taiwan. Japan witnessed significant growth of 33% M-o-M in scrap exports to Taiwan in Jun'18 supplying 80,543 MT ferrous scrap followed by other prominent exporters were Hong Kong (15,572 MT), Canada (11,817 MT), Australia (10,858 MT), Dominican Republic (7,917 MT) and South Korea (6,889 MT) occupying 5%, 4%, 3%, 2% and 2% share in total scrap imports in Taiwan.

The country witnessed a sharp fall in finish long exports by 55% M-o-M which stood at 0.05 MnT while finish flat exports down 7% M-o-M to 0.74 MnT in Jun'18.

Country-wise Taiwan ferrous scrap imports -

Quantity in MnT,
Source: SteelMint Stats