Taiwan’s ferrous scrap imports in June declined by 32.94pc to 234,818mt from June 2020. From May, imports declined by 24.24pc, according to customs data. In the month, steel prices in the country remained under pressure due to lack of demand. Mills, therefore, limited their purchase of ferrous scrap, especially from seaborne markets where prices were firm on strong global cues. 

 

In June, imports from US were the highest and stood at 105,820mt, down by 16pc and 23pc from the preceding month and the prior-year June, respectively. 

 

Japan was the second-largest supplier to Taiwan and exported 44,369mt, down 34pc from a month ago and 71pc from June 2020. In early 2021, China resumed imports of ferrous scrap as it shifts to EAF-based steel production to curtail carbon footprints. Chinese buyers were willing to pay higher prices for material over Taiwanese mills. Sellers from Japan, therefore, diverted supplies to China.

 

Other major supplier countries included Australia, which exported 23,084mt to Taiwan, down by 10pc from May but up by 51pc from June 2020; and Canada which exported 9,612mt, down by 54 and 44pc from May and June 2020, respectively. 

 

 

In January to June period, Taiwan imported 1.61mn mt ferrous scrap, down by 16.54pc from the prior-year period. 

 

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