Other Elements and Materials

Taiwan: Ferrous Scrap Imports Hit 2 Years High in May

Taiwan: Ferrous Scrap Imports Hit 2 Years High in May
Mining News Pro - As per recent customs data, Taiwan world`s one of the leading scrap importers has imported 332,937 MT ferrous scrap in May’18. The country witnessed a significant surge of 23% M-o-M as against 270,199 MT ferrous scrap imports recorded in Apr’18
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SteelMint Alert :Melting Scrap -23 Jul 2018


Taiwan: Ferrous Scrap Imports Hit 2 Years High in May


As per recent customs data, Taiwan world`s one of the leading scrap importers has imported 332,937 MT ferrous scrap in May’18. The country witnessed a significant surge of 23% M-o-M as against 270,199 MT ferrous scrap imports recorded in Apr’18.

According to customs data maintained with SteelMint, Taiwan`s ferrous scrap imports have hit almost 2 years high in May’18. Earlier to this, scrap imports crossed the mark of 33,000 MT in Jul’16 and recorded at 339,004 MT of ferrous scrap in Taiwan. On yearly premises, it has witnessed rise in scrap imports by 9% Y-o-Y in May’18 as against 304,561 MT scrap imports recorded in May’17.

Imported scrap prices in Taiwan remained almost flat in May -Taiwan witnessed a fall of USD 20/MT in monthly average imported scrap prices for USA origin HMS (80:20) in Apr’18 which were recorded at an average price of USD 338/MT, CFR in Apr’18. However, average prices remained almost flat and recorded at USD 342/MT in May’18. Taiwanese scrap purchases increased in May owing to increased finish steel demand in the country and buyers remained inclined towards USA bulk scrap imports.

United States remained largest ferrous scrap supplier to Taiwan -In May’18, United States exported highest 154,635 MT ferrous scrap occupying 46% share in total scrap imports to Taiwan. Japan witnessed significant growth of 126% M-o-M in scrap exports to Taiwan in May`18. Japan supplied 60,571 MT ferrous scrap followed by other prominent exporters were Canada (12,782 MT), Australia (11,694 MT), Dominican Republic (11,017 MT) and Hong Kong (10,358 MT) occupying 4%, 4%, 3% and 3% respectively to Taiwan.

Taiwan witnessed a sharp rise in finish long exports by 57.14% M-o-M in May’18 which stood at 0.11 MnT as against 0.07 MnT in Apr`18. Increasing use of scrap in steel making could have attributed to increase in scrap imports despite fall in iron ore imports which recorded at 1.67 MnT, down by 18% M-o-M as against 2.04 MnT iron ore imports in Apr`18 to Taiwan.

Taiwanese scrap imports surge 20% Y-o-Y during Jan-May’18 –Taiwan imported 1.32 MnT ferrous scrap in during Jan-May’18 as against 1.10 MnT during Jan-May’17. The rise in ferrous scrap imports in Taiwan could be attributed to increasing in scrap purchases and increasing EAF crude steel production as compared to last year.

USA remained the largest supplier to Taiwan in first five months of CY18 occupying 48% share. US exported 0.63 MnT, up 19% Y-o-Y as against 0.53 MnT scrap exports during the same period last year followed by Japan (0.14 MnT, -22% Y-o-Y), Australia (0.09 MnT, +29% Y-o-Y), Hong Kong (0.06 MnT, +50% Y-o-Y) and Canada (0.05 MnT, stable Y-o-Y) respectively.

Taiwan crude steel output decreased 12% Y-o-Y in Jan-May’18 -According to the data released by World Steel Association, crude steel production in Taiwan stood at 8.48 MnT as compared to 9.69 MnT recorded during Jan-May’17. Decreasing iron ore imports (down by 15% Y-o-Y during Jan-May’18) in the country could be attributed to decreasing blast furnace route steel production.

Country-wise Taiwan ferrous scrap imports –

Country

May`18

Apr`18

% Y-o-Y Change

May`17

% M-o-M Change

Jan-May`18

Jan-May`17

% Change

United States

0.15

0.13

15.38%

0.15

0.00%

0.63

0.53

18.87%

Japan

0.06

0.03

100.00%

0.04

50.00%

0.14

0.18

-22.22%

Australia

0.01

0.04

-75.00%

0.02

-50.00%

0.09

0.07

28.57%

Hong Kong

0.01

0.02

-50.00%

0.01

0.00%

0.06

0.04

50.00%

Canada

0.01

0.01

0.00%

0.01

0.00%

0.05

0.05

0.00%

Dominican Republic

0.01

0.01

0.00%

0.01

0.00%

0.05

0.05

0.00%

Others

0.08

0.03

166.67%

0.06

33.33%

0.30

0.18

66.67%

Total

0.33

0.27

22.22%

0.30

10.00%

1.32

1.10

20.00%

Quantity in MnT,
Source: SteelMint Stats

 

 


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