Taiwan's pig iron imports declined sharply in 2014

Published: Apr 1, 2015 17:52

Save

According to statistics released by the Taiwan Directorate General of Customs, the pig iron imports by Taiwan plunged heavily during the year 2014.

Author: Paul Ploumis01 Apr 2015 Last updated at 05:19:45 GMT

BEIJING (Scrap Monster): According to statistics released by the Taiwan Directorate General of Customs, the pig iron imports by Taiwan plunged heavily during the year 2014. The country’s pig iron imports totaled 551,316 metric tons during the year, down 32.6% when compared with the yearly import of 818,314 metric tons during 2013.

The largest exporter of pig iron to Taiwan during 2014 was Russia with 211,127 tons. Russia accounted for 38.3% share of the total Taiwanese imports during the year. The pig iron imports from Russia increased by 8.5% when compared with the previous year. The Taiwanese imports from Russia had totaled 194,656 tons in 2013.

In second place was Brazil with 140,136 tons. The imports from Brazil dropped by 44.4% in 2014 when compared with the imports during the previous year. The third largest source of import for pig iron by Taiwan was Indonesia with 60,804 tons. The imports from Indonesia soared higher by 63.6% during the year 2014.

The other major suppliers of pig iron to Taiwan during 2014 were India (51,297 tons, 9.3% share), South Africa (26,777 tons, 4.9% share), Ukraine (21,000 tons, 3.8% share), Vietnam ( 14,725 tons, 2.7% share), China (6,646 tons, 1.2% share) , North Korea (6,143 tons, 1.1% share) and Japan (6,111 tons, 1.1% share).

The country’s pig iron imports had totaled 840,424 tons and 767,599 tons in CY 2011 and 2012 respectively.

pig iron imports Taiwan

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

18 hours ago

Fed Governor Milan Pushes for Over 100 Basis Points Cut, Contradicts Barkin on Caution

Federal Reserve Governor Milan pointed out that it is necessary for the US Fed to cut interest rates by more than 100 basis points this year. At the same time, he is very much looking forward to the performance of Kevin Warsh as Fed Chairman. However, Richmond Fed President Barkin emphasized that monetary policy must remain cautious until inflation fully pulls back to the target level, thereby ensuring the stability of the labour market.

18 hours ago

Democratic Senators Demand Delay in Fed Nomination Amid Criminal Investigation

All 11 Democratic members of the US Senate Banking Committee jointly sent a letter to the committee's chairman, Tim Scott, requesting that all nomination processes for the prospective Fed Chairman, Kevin Warsh, be postponed until the criminal investigation into current Fed Chairman Powell and other board members is concluded. However, Scott stated that Warsh's confirmation was a done deal.

18 hours ago

Fed to Keep Large Banks' Capital Levels Unchanged, Postpones Stress Test Reforms Until 2027

The US Fed has announced that it will maintain the capital levels of large banks unchanged during the upcoming stress test cycle (corresponding to the 2026 cycle). At the same time, the US Fed is planning multidimensional reforms to this annual test, aiming to enhance its transparency. The US Fed's Vice Chair for Supervision, Bowman, revealed that adjustments to the stress capital buffer requirements for large banks will be postponed until 2027. This move is intended to provide the US Fed with sufficient time to evaluate potential flaws that may be exposed in its testing models when assessing banks' financial conditions under simulated economic downturn scenarios.

18 hours ago