Ferrous Scrap Imports by Taiwan Recorded 19% Surge

SEATTLE (Scrap Monster): Taiwan’s ferrous scrap import volumes surged higher significantly during the month of July this year. The imports hit the highest level in nearly 38 months, said latest trade data published by the Taiwan Directorate General of Customs.

The monthly imports totaled 374,042 tons during the month. This compares with June ’19 imports of 275,183 tons. Over the previous month, the imports were up by nearly 36%. Also, July ’19 imports recorded year-on-year surge by 18.8%. The imports by the country touched the highest level since May 2016.

The top supplier of ferrous scrap to Taiwan in July ’19 was the U.S. The imports from the U.S. totaled 165,395 tons, accounting for more than 44% share of the total scrap imports by the country. The imports from the U.S. have surged by almost 25% over the previous month. In second place was Japan with an import market share of nearly 23%. The imports from that country totaled 84,487 tons, registering a jump of nearly 68% month-on-month. The third largest scrap supplier was Hong Kong, whose supplies totaled 32,987 tons in July this year. The above top three suppliers together accounted for nearly 76% of the total Taiwanese ferrous scrap imports.

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The other key import sources were Canada (14,701 tons), Australia (10,094 tons) and Dominican Republic (9,492 tons).

The cumulative scrap imports from January to July this year totaled 1.980 million tons, down 5.7% from 2.101 million tons in Jan-July ’18.