Taiwan’ imports of steel scrap declined slightly in 2019, but mainly because customers cut purchases from alternative sources like Hong Kong and Australia, while shipments from Japan surged.
Taiwan’s total scrap imports amounted to 3.53 million mt in 2019, 2.8 percent below the result for 2018, according to Taiwan’s Bureau of Foreign Trade. The US remained the major supplier to the country with shipments at 1.7 million mt in 2019, up 0.09 percent year on year. Japanese exporters managed to visibly strengthen positions in Taiwan. Ex-Japan scrap shipments to Taiwan surged by 45 percent or almost 200,000 mt year on year to 630,360 mt. Such an increase was connected with lower scrap demand from South Korea, which was the main sales destination for Japanese suppliers. To offset these losses, Japan increased sales to Taiwan, Vietnam and Bangladesh, sources told SteelOrbis.
Japanese exporters were flexible in pricing, which was beneficial for Taiwanese importers. In December, ex-Japan scrap imports to Taiwan climbed to 98,231 mt, against just 23,510 mt over the same month of the previous year. Overall scrap imports in Taiwan added 13.5 percent year on year to 391,358 mt in December.