Taiwan's ferrous scrap imports dropped 20% in Aug '14

BEIJING (Scrap Monster) : According to latest trade data released by the Taiwan Directorate General of Customs, the country’s total ferrous scrap imports during August this year declined by 20.1% when compared with the imports during the same month a year ago. The ferrous scrap imports by the country totaled 296,248 tons during Aug ’14. The imports have dropped below 300,000 tons for the first time in six months, said the trade data.

The US was the largest exporter of ferrous scrap to Taiwan during the month. The country’s imports from the US totaled 173,160 tons, accounting for 58% of the total imports during the month. The ferrous scrap imports from the US declined by over 8% from the previous month.

The second largest exporter was Hong Kong. The exports from Hong Kong to Taiwan totaled 19,588 tons. The imports from Hong Kong accounted for 6.6% of the total imports by Taiwan during August this year. In third place was the Philippines with 15,530 tons, accounting for 5% of total monthly imports.

The other main exporters of ferrous scrap to Taiwan during August this year were: Japan-12,939 tons, Canada-12,869 tons and Australia-10,801 tons.

The cumulative scrap imports by Taiwan during the initial eight-month period of the current year totaled 2.848 million tons. The key exporters during the period were the US (1,614,323 tons, 56.7%), Japan (269,988 tons, 9.5%) and Hong Kong (144,610 tons, 5.1%).