Published on August 15, 2024

According to official customs figures, Taiwan’s ferrous scrap imports experienced a significant decline in the first seven months of this year. From January to July, the total imports fell by 11.0 percent year-on-year, amounting to 1,819,973 metric tons (mt).

The United States emerged as Taiwan’s primary scrap supplier during this period, exporting 754,076 mt of ferrous scrap. This marked a slight increase of 0.8 percent compared to the previous year. Despite the overall decline in imports, the US managed to maintain and slightly boost its export volume to Taiwan.

In contrast, Japan’s scrap exports to Taiwan saw a substantial decrease. During the same period, Taiwan imported 421,338 mt of scrap from Japan, representing a 27.4 percent drop from the previous year. This significant reduction highlights the shifting dynamics in Taiwan’s scrap import sources.

July alone witnessed a notable decline in scrap imports. Taiwan imported 219,195 mt of scrap in that month, reflecting a 22.9 percent decrease from July of the previous year and a 16.2 percent decrease from June. This monthly decline underscores the ongoing challenges in the scrap import market.

The data indicates a shifting landscape in Taiwan’s scrap import market, with varying trends among its primary suppliers. While the US slightly increased its exports, Japan faced a significant reduction, contributing to the decline in Taiwan’s scrap imports.