Taiwan - Flat Steel Exports Hit Nearly 3 Year Low
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As per latest custom data,Taiwan flat steel exports which includes 7208 (HR coils/Plates),7209(CR coils),7225(Electrical sheets),7210/7212(GP/GC) hit the lowest in Aug'18.Nation's flat steel exports is nearly 3 years low at 0.51 MnT,however in Sep'2015 nation's flat steel exports was recorded at similar levels.
On monthly basis nation's flat steel exports recorded the decline of 35% M-o-M basis.In Aug'18 nation's flat steel exports stood at 0.51 MnT which was 0.78 MnT in previous month.
Similarly on yearly basis, nation's flat steel exports fell down significantly by 32% in Aug'18 as compared to 0.75 MnT in same month of previous year.
During first eight months (Jan-Aug'18) nation's flat steel imports stood at 5.80 MnT inch up by 3% against 5.64 MnT in similar time frame of previous year.
Trade protectionist measures results lower export volumes from Taiwan- In Taiwan local steelmakers are facing 25% punitive tariffs in the EU after provisional safeguard measures took effect last month. Exports of about 23 steel product categories from Taiwan are subject to the sanctions.Along with this,USA trade tariffs of 25% is also imposed on Taiwan steel products with the effect from 1st Jun'18.All these reasons collectively lead to decline in export volumes from Taiwan.
Meanwhile in the month of August, Taiwan based China steel corporation (CSC) raises steel prices in domestic market for Q4 by 1.4% as new infrastructure,newly construction projects, and new housing sectors stimulate demand.
Commodity wise Flat steel Exports in Aug'18
| Particulars | Aug'18 | Jul'18 | M-o-M (Change in %) | Aug'17 | Y-o-Y (Change in %) |
| HRC/Plate | 0.24 | 0.37 | -35.13 | 0.37 | -35.13 |
| Galvanized Steel | 0.13 | 0.21 | -38.09 | 0.21 | -38.09 |
| CRC | 0.07 | 0.13 | -46.15 | 0.11 | -36.36 |
| Electrical Steel | 0.05 | 0.06 | -16.66 | 0.06 | -16.66 |
| Others | 0.01 | 0.01 | 0 | 0.01 | 0 |
| Total | 0.50 | 0.78 | -36% | 0.76 | -34% |
Fig in MnT
Source-SteelMint Research
Country-Wise Taiwan Flat Steel Exports in Aug'18- Taiwan majorly exports flat steel to Vietnam.In Aug'18 nation has exported 0.09 MnT to Vietnam less by 10% as compared to 0.10 MnT in previous month.
Second major importer was China which stood at 0.05 MnT in Aug'18 as compared to 0.10 MnT in Jul'18.
Meanwhile Japan stood at 0.05 MnT in Aug'18 against 0.05 MnT in previous month.
Other major importers were Malaysia at 0.07 MnT, USA at 0.03 MnT ,followed by Pakistan at 0.03 MnT and Belguim at 0.02 MnT in Aug'18.
