Total imports of ferrous scrap in Taiwan increased by 23.5 percent year on year to 951,705 mt in the first quarter this year, mainly owing to higher shipments from Japan, according to official customs statistics.
Japanese suppliers faced lower demand from such traditional customers as South Korea, while local demand in Japan was also reduced. As a result, exporters from Japan managed to supply 293,648 mt of scrap to Taiwan in the first quarter, which is 177.7 percent above the same period last year. “Taiwan and Vietnam are very important outlets for Japan. We expect demand from South Korea to fall further [in the coming one to two months],” a trader said.
Ex-US shipments to Taiwan totalled 432,245 mt in the January-March period, up by nine percent year on year.
In March alone, Taiwan’s scrap imports totaled 327,117 mt, three percent above the same month last year, but down by 11.5 percent from February.