IRON and STEEL   Scrap & Recycling  

Taiwan: Ferrous Scrap Imports Up 27% in CY18

Taiwan, world’s one of the leading ferrous scrap importers has observed a second successive rise in scrap imports in CY’18 since CY’16. The country imported 3,386,357 MT ferrous scrap during CY18 as against 2,673,513 MT during CY17 witnessing a rise of 27% Y-o-Y, the recent customs data showed.

According to the World Steel Association, crude steel production in Taiwan stood at 23.23 MnT during Jan-Dec’18, up 3.5% Y-o-Y as against 22.44 MnT recorded during CY’17. Rising scrap purchases could be attributed to increasing EAF based crude steel production and rising finish long (1.05 MnT, +9% Y-o-Y) and finish flat (9.54 MnT, +4% Y-o-Y) exports against the last year.

Taiwan’s imported scrap prices jump almost 20% Y-o-Y in CY’18 - As per SteelMint’s data, the yearly average price of USA origin HMS (80:20) stood at USD 325-330/MT, CFR Taiwan in CY18, up USD 50-55/MT Y-o-Y against USD 270-275/MT, CFR in CY17. Taiwan witnessed a rise in scrap import prices on high finish export prices in CY18 against last year also, steel mills could able to pay more for containerized scrap on decent domestic demand.

United States remained the largest ferrous scrap supplier - United States scrap exports to Taiwan recorded at 1.61 MnT, up 39% Y-o-Y against 1.16 MnT ferrous scrap in CY17 occupying highest 48% share in total scrap imports in CY18.

Japan remained the second largest supplier with 0.40 MnT ferrous scrap occupying 12% share. Followed by other prominent exporters were Hong Kong (0.18 MnT, +38% Y-o-Y), Australia (0.16 MnT, +33% Y-o-Y) and Canada (0.15 MnT, +88% Y-o-Y) occupying 5%, 5% and 4% share in CY’18. Notably, Chinese scrap exports fell sharply in CY18 to Taiwan following stricter inspection regulations.

Scrap imports almost stable M-o-M in Dec’18 - The country imported 320,576 MT ferrous scrap in Dec’18 as against 323,013 MT in Nov’18. The largest supplier, USA witnessed a jump of 20% M-o-M in scrap exports while that from Japan and Hong Kong remained stable in Dec'18.

In line with this, the country’s finish flat exports observed a rise of 17% M-o-M to 813,112 MT in Dec’18. Decent demand for finish steel in both export and domestic markets kept sentiments steady for scrap imports towards the closing of the calendar year.

On yearly premises, the country witnessed a significant rise of 49% Y-o-Y in scrap imports as against 215,760 MT ferrous scrap in Dec’17.

As per recent reports, latest US origin HMS 1&2 scrap price stands at around USD 310/MT, CFR Taiwan, up USD 10-15/MT against last week, also domestic scrap and rebar prices remained unchanged on less clarity about the market outlook as scrap prices in Asian markets have observed correction, on the other hand, Japanese domestic scrap prices remained strong.

News No: 4015
Date: 2019/03/14 - 13:52
News Source: SteelMint

Taiwan  Ferrous Scrap  Import  customs  crude steel 


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