Taiwan’s ferrous scrap imports up 25pc in August

Taiwan’s ferrous scrap imports in August rose by 25pc to 3,86,217mt from 3,09,178mt in August 2019 and grew by 11pc from 3,48,061mt in July, according to preliminary customs data.    

In August, the US continued to the top exporter of ferrous scrap to Taiwan with exports up by 3pc from July at 157,255mt, followed by Japan with exports up by 6pc at 107,806mt. Australia exported 21,557mt scrap to Taiwan which is down by 22pc from July and Canada exported 19,495mt scrap, up 20pc from July. 

South and Central American countries, similar to the trend seen in July, increased their ferrous scrap exports to Taiwan. Chile exported 11,663mt scrap, while exports from Dominican Republic were at 11,619mt. Taiwanese mills are trying to diversify their ferrous scrap sources and opting for competitively priced scrap from Central and south American suppliers as Japanese and US scrap offers have moved beyond their comfort zone.   

In the Jan-Aug period, Taiwan’s ferrous scrap imports rose by 17pc to 2.675mn mt from the prior-year period.