Taiwan extends restriction on scrap exports

Taiwan extends restriction on scrap exports

Taiwanese government has recently announced that it determined to extend the restriction on ferrous scrap exports till the end of December. The restriction on exports was initially planned to be lifted on September 10, 2004. The extension of the restriction on scrap exports covers four categories of scrap, including cast iron scrap and turnings. According to the decision of the Bureau of Foreign Trade (BOFT), a specifial export license will be required for shipments of certain scrap types till December 31, 2004, excluding remelted scrap ingots and scrap of tinned iron or steel. As previously reported by SteelOrbis, Taiwanese government in March 2004 implemented restriction on exports of steel scrap, cold rolled steel coils, wire rod, reinforcing steel and steel pipes to ensure availability of these products in domestic market.