Source: Argus Media
Taiwan imported 391,358t of ferrous scrap in December, the highest monthly intake in 2019.
Taiwan's 2019 ferrous scrap imports fell by 2.8pc to 3.53mn t, sourced from 80 countries, according to import data released by Taiwan's bureau of foreign trade. Imports from its top five suppliers — the US, Japan, Canada, Hong Kong and Australia — rose by 4.7pc to 2.8mn t in 2019. US remained the top supplier last year accounting for 49.2pc of imports, followed by Japan with a 17.9pc share, Canada at 4.7pc, Hong Kong at 4pc and Australia at 3.8pc.
US imports fell by 0.7pc to 1.74mn t.
Japanese imports rose by 45pc, or 195,736t, to 630,360t. Japanese scrap suppliers shifted sales to exports under pressure of a weak domestic market and temporarily away from main buyer South Korea because of a trade spat.
Imports from Canada rose by 12.4pc to 166,652t in 2019.
Imports from Hong Kong and Australia both dropped in 2019, down by 23.3pc and 19.6pc respectively.
The main factors behind Taiwan's lower scrap imports are weaker domestic steel demand reducing scrap use and increased semi-finished imports taking share away from electric arc furnaces.
Taiwan's government has held off funding large infrastructure projects that will grow demand.
Taiwan's crude steel production during January-November fell by 4.1pc from a year earlier, according to the World Steel Association.
By Xia Ji