By Anil Mathews

ScrapMonster Author

BEIJING (Scrap Monster): According to data published by Taiwan Customs Department, the country’s scrap imports totaled 220,000 tons during November this year. The imports declined by almost 4% when matched with the imports of 228,000 tons during the previous month. The US accounted for bulk of the monthly scrap imports. The imports from the US totaled nearly 90,000 tons, constituting over 40% of Taiwanese scrap imports during the month. The second largest exporter was Japan.

The country’s scrap imports had totaled 228,000 tons in October. The monthly imports had increased by nearly 6% in comparison with the prior month. The primary source of import during the month was the US. The US scrap exports to Taiwan totaled 128,475 tons, accounting for nearly 57% of total imports. The second largest exporter of scrap to Taiwan during the month was Australia with 20,103 tons. The other key import sources were Russia (12,313 tons) and the UK (7,800 tons).

Taiwan had imported 215,000 tons of scrap during the month of September this year. The imports dropped heavily by almost one-third when matched with the imports of 320,923 tons during the month prior to that. The US accounted for more than half of the monthly scrap imports. The imports from the US totaled nearly 120,000 tons. The other key sources of import were Japan (27,810 tons) and Australia (16,525 tons).

It must be noted that the major Taiwanese long steel product manufacturer-Feng Hsin Iron and Steel Co. had decided to increase its scrap purchasing prices for the current week. The scrap buying prices were increased by NT$300 per ton to range between NT$7,400 per ton and NT$7,900 per ton. Meantime, the company had also decided to keep the rebar base prices unchanged at NT$14,200 per ton for the current week.

The country’s billet imports too were down significantly during November this year. The imports totaled nearly 100,000 tons, falling by almost 52% when compared with the previous month. The sharp cut in imports is on account of surge in international billet prices, Customs Department noted. Russia accounted for half of the imports. The billet imports from Russia totaled nearly 50,000 tons. The imports of billets from China dropped heavily to total around 17,000 tons during the month.

The billet imports had totaled 158,000 tons in October, rising sharply by 285% over the previous month. The key exporter of billets to Taiwan was Russia. The billet imports from Russia totaled 80,000 tons, followed by China. The country’s steel billet imports had dropped sharply by 58% month-on-month to 42,000 tons in September, mainly on account of rising coke prices.

Meantime, the country’s H-section exports have increased by 5% month-on-month to 20,000 tons in November. The largest importer of Taiwanese H-section was the US. The imports by the US totaled nearly 5,000 tons, accounting for almost a quarter of the total exports by Taiwan. The second largest importer of Taiwanese H-section was South Korea. The Taiwanese rebar exports plunged by nearly 52% over the previous month to total 12,887 tons in November. The key importer was Australia with 12,198 tons (nearly 95% share of Taiwanese rebar exports in November).