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Taiwan Q1 ferrous scrap imports plunged by 47%

iconJun 3, 2016 19:05
Source:SMM
The ferrous scrap imports by Taiwan totaled 650,593 tons during Jan-Mar ’16.

By Anil Mathews (ScrapMonster Author)

June 03, 2016 04:47:48 AM

BEIJING (Scrap Monster): The most recent statistics published by the Taiwan Directorate General of Customs indicates that the country’s ferrous scrap imports dropped sharply during the initial quarter of the current year. The imports during the month of March alone were down significantly when matched with the previous year. This is the tenth consecutive month that the monthly ferrous scrap import volume has registered year-on-year decline.

Quarterly Imports

The ferrous scrap imports by Taiwan totaled 650,593 tons during Jan-Mar ’16. The imports were down sharply by 46.9% when matched with the imports of 1.225 million tons during the corresponding three-month period in 2015.

The top exporter of ferrous scrap to Taiwan during Q1 2016 was Japan. The imports from that country totaled 256,465 tons, accounting for almost 40% of the total imports by Taiwan during the quarter. The imports from Japan declined considerably by 43.7% when compared with the imports of 455,265 tons in Q1 2015.

The US was the second largest exporter of ferrous scrap to Taiwan during the quarter with exports of 238,965 tons, accounting for 36.7% share of Taiwanese imports. The imports dropped nearly 39% over the previous year. The ferrous scrap imports by Taiwan from the US during Jan-Mar ’15 had totaled 391,871 tons.

In third place was Hong Kong with 52,435 tons. The imports from Hong Kong were down by 17.5% year-on-year during the quarter. The other key exporters of ferrous scrap to Taiwan during the quarter were Australia (23,716 tons), Philippines (11,576 tons), Canada (11,043 tons), China (9,412 tons) and Dominican Republic (9,180 tons).

Imports-Mar ‘16

The scrap imports by Taiwan during the month of March this year totaled 250,043 tons. The monthly imports were down sharply by 38.8% from the year-ago month. The top three exporters of ferrous scrap during the month were Japan (92,377 tons), USA (109,330 tons) and Hong Kong (14,962 tons). However, the imports rose nearly 19% from the previous month. The trade statistics indicate that monthly imports have edged higher for two months in a row.

Imports-Feb ‘16

The scrap imports by Taiwan during the month of February this year totaled 210,294 tons. The imports tumbled by 37.5% when compared with the scrap imports during the same month a year ago.

The largest scrap exporter to Taiwan during Feb ‘16 was Japan. The scrap imports by Taiwan from Japan totaled 107,532 tons. The scrap imports from the country accounted for over 51% of the total scrap imports by Taiwan during the month. The US scrap exports to Taiwan declined significantly by 28.5% year-on-year. The second largest scrap exporter to Taiwan during the month was the US. The imports from the country totaled 67,052 tons, accounting for approximately 32% of the total scrap imports by Taiwan during the month. The scrap imports from the US dropped heavily by 25.8% year-on-year. In third place was Hong Kong with 7,809 tons. The scrap imports from Hong Kong plummeted by 62.8% over the previous year.

Imports-Jan ‘16

The scrap imports by Taiwan during the month of January this year totaled 190,256 tons. The US was the largest exporter of ferrous scrap to Taiwan during eth month. The exports from the country totaled 62,583 tons. In second place was Japan with 56,556 tons. The other key exporters during the month were Hong Kong (29,664 tons), Australia (10,320 tons), China (5,018 tons), Dominican Republic (4,458 tons) and Canada (4,224 tons).


ferrous scrap imports

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