Taiwan’s ferrous scrap imports in August drop by 37pc to 244,117mt from August 2020. From July, imports are marginally up by 1pc, according to customs data.
In August, scrap prices rose due to an increase in overseas offers though local steel sales didn’t witnessed a major improvement. Steel mills maintenance, summer seasonality, restrictions imposed to curb Covid-19 pandemic impacted ferrous scrap trade in the Southeast Asian markets.
The US continued to be the topmost supplier to Taiwan with exports of 95,204mt in August, down by 15pc and 39pc from July and the prior year, respectively.
Japan was the second exporter to Taiwan with exports of 38,051mt, up by 116pc against July, whereas down by 65pc from a year ago, Followed by Australia 25,343mt and Canada 12,138mt in August.
Trade activities for finished steel and scrap remained subdued amid COVID-19 restrictions.
| Taiwan’s ferrous scrap import in August | |||||
|---|---|---|---|---|---|
| Exporters | Aug-21 | Jul-21 | Change M-o-M | Aug-20 | Change Y-o-Y |
| United States | 95,204 | 111,690 | -15% | 157,255 | -39% |
| Japan | 38,051 | 17,599 | 116% | 107,802 | -65% |
| Australia | 25,343 | 16,085 | 58% | 21,557 | 18% |
| Canada | 12,138 | 10,554 | 15% | 19,495 | -38% |
| Venezuela | 12,030 | 11,287 | 7% | 4,977 | 142% |
| Dominican Republic | 11,910 | 22,434 | -47% | 11,619 | 3% |
| Hong Kong | 9,894 | 5,359 | 85% | 6,579 | 50% |
| Costa Rica | 4,827 | 3,641 | 33% | 4,492 | 7% |
| Puerto Rico | 4,236 | 4,990 | -15% | 3,533 | 20% |
| Others | 30,484 | 37,242 | -18% | 48,904 | -38% |
| Total | 244,117 | 240,881 | 1% | 386,213 | -37% |