Total imports of ferrous scrap in Taiwan increased by 19.7 percent year on year to 1.59 million mt in the January-May period of this year, according to official customs statistics.
Japan remained as the main scrap supplier for Taiwan, exporting 532,028 mt of scrap in the given period, up 188.39 percent year on year. Japanese suppliers have been active in the export market and have been increasing their scrap export prices, seeing demand overseas, in Taiwan in particular. However, Japanese domestic scrap demand has also started to improve in June after the lifting of the lockdown.
Besides, scrap exports from the US to Taiwan totaled 681,552 mt in the first five months of the year, rising by 2.15 percent, compared to the corresponding period of the previous year.
In May alone, Taiwan’s scrap imports totaled 348,042 mt, increasing by 45.87 percent year on year and up 18.56 percent from April.