TAIPEI: Taiwan imported 237,206 mt of ferrous scrap in January, 0.5% higher than in the previous month, according to data released by the finance ministry Thursday. The figure was up 11% year on year.
The US remained Taiwan’s largest supply source in January with 120,018 mt, accounting for 51% of total imports. Imports from the US were 10% higher than in December, the data showed. They comprised mainly heavy melting scrap grades imported via containers, with some shipped in bulk too, Taiwanese buyers said.
Hong Kong was in second place, with 13,205 mt or 6% of Taiwan’s total imports in January. Scrap from Hong Kong, also mostly HMS, is usually shipped to Taiwan in bulk vessels of 3,000-5,000 mt, although some are in containers, Hong Kong-based suppliers said. Taiwanese buyers said Hong Kong scrap is not as preferred as US scrap because of quality differences.
Taiwan imported 12,099 mt of scrap from Japan in January, accounting for 5% of total imports. The volume had fallen 51% from December, partly because of stronger domestic demand from Japan’s Olympics construction, as well as higher prices from South Korea pulling Japanese scrap away from Taiwan, market participants said.
Scrap imports from Australia and Canada have continued to grow by 9% to 11,571 mt and 12% to 10,572 mt respectively, with Taiwanese buyers citing a need to diversify sources in view of the rise in US scrap prices.
