Taiwan’s scrap imports fall, HRC imports rise

Taiwan’s import market showed opposite trends in ferrous scrap and hot rolled coil (HRC) shipments in the first ten months of the year. During this period, ferrous scrap imports fell by 12.7% y-o-y to about 2.53 million tons. The US remained Taiwan’s largest supplier with 1.06 million tons, while Japan came in second with 548,000 tons.

In October, Taiwan imported about 255,000 tons of ferrous scrap. Despite a 5.2% increase on a m-o-m basis, this amount was 21% lower than the same period last year.

In contrast to the decline in scrap imports, Taiwan’s HRC imports hit a record 219,000 tons in October. This remarkable increase was attributed to the intensification of deliveries following the shipment disruptions caused by the typhoon in late September and the anti-dumping measures implemented by China Steel Corporation against HRC products originating from China.

In the first ten months of the year, Taiwan’s total HRC imports reached 1.098 million tons, exceeding the total for 2023 by 400,000 tons. China led the way among suppliers with 718,000 tons, followed by South Korea with 196,000 tons and Japan with 182,000 tons. Experts noted that HRC import volumes in October have not been seen in the last 20-30 years.