Taiwan’s ferrous scrap imports dropped to 240,881mt in July, down by 31pc from a year ago, amid weak domestic steel demand due to the summer lull. Imported increased by 3pc from June.
The US was the top exporter of scrap to Taiwan and accounted for nearly half of the exports at 111,690mt. Export from the Caribbean nation of Dominican Republic ranked second with exports of 22,434mt, followed by Japan 17,599mt, Australia 16,085 and Venezuela 11,287mt.
A resurgence of COVID-19 infections and a series of power outages for industrial users have dampened the buying appetite of Taiwanese steel mills.
| Taiwan import ferrous scrap July 2021 | |||||
|---|---|---|---|---|---|
| Exporters | Jul-21 | Jun-21 | Change MoM | Jul-20 | Change YoY |
| US | 1,11,690 | 1,05,820 | 6% | 1,53,280 | -27% |
| Dominican Rep. | 22,434 | 5,053 | 344% | 4,978 | 351% |
| Japan | 17,599 | 44,369 | -60% | 1,01,825 | -83% |
| Australia | 16,085 | 23,084 | -30% | 27,634 | -42% |
| Venezuela | 11,287 | 4,452 | 154% | 1,096 | 930% |
| Canada | 10,554 | 9,612 | 10% | 16,290 | -35% |
| Hong Kong | 5,359 | 6,322 | -15% | 2,890 | 85% |
| Puerto Rico | 4,990 | 1,578 | 216% | 344 | 1351% |
| Panama | 4,801 | 856 | 461% | 64 | 7402% |
| Others | 36,082 | 33,672 | 7% | 39,638 | -9% |
| Total | 2,40,881 | 2,34,818 | 3% | 3,48,039 | -31% |