Taiwan: Iron Ore Imports Down 9% in Jan-Aug'18

Taiwan has depicted iron ore imports at 15.51 MnT for the duration Jan- Aug'18, decline of 9% as against same duration last year (Jan-Aug'17) at 17.13 MnT.

The country has depicted rise of 4% in imports for the month of Aug'18. The imports recorded at 1.89 MnT, up 4% as against July'18 imports at 1.81 MnT. On yearly premises, the imports in Aug'18 recorded 9% decline as against imports in Aug'17 at 2.08 MnT.

Trade protectionist measures results lower 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% are also imposed on Taiwan steel products with the effect from 1st Jun'18.

The Non-agglomerated ore (Lump and Fines) imports witnessed 14% rise in Aug'18 to 1.74 MnT as against 1.52 MnT in last month. The Y-o-Y imports in Aug'18 recorded fall of 11% compared to 1.96 MnT in Aug'17.

Agglomerated ore (pellets and concentrates) imports in Aug'18 recorded fall of 53% on monthly basis at 0.14 MnT as against 0.3 MnT in July'18. However, the Y-o-Y change depicted 17% increase as against 0.12 MnT in Aug'17.

Australian iron ore exports to Taiwan up 30% M-o-M

Australia continues to be the largest exporter of iron ore to Taiwan in Aug'18 at 1.47 MnT (up 30% M-o-M) accounting for 78% of total Taiwan's imports share for the month. Brazil stood second largest exporter at 0.42 MnT (down 21% M-o-M).

Canada and South Korea exports to Taiwan dropped to nil as against being 0.14 MnT and 0.01 MnT respectively a month ago.

Taiwan's Country wise import: Aug'18 v/s July'18

Quantity in MnT
Source: Taiwan Customs
Provisional Data