Published on 15 July 2024
Taiwan, a significant player in the global scrap market, experienced a decline in ferrous scrap imports during the first half of the year. According to recent statistics, the total imports fell by 9.1%, amounting to 1,600,803 metric tons (mt) from January to June.
Key Highlights:
- US Remains Top Supplier:
- The United States maintained its position as Taiwan’s primary scrap supplier. During the first six months of the year, the US sent 656,514 mt of scrap to Taiwan—an increase of 2.5% compared to the previous year.
- This consistent supply from the US underscores the strong trade relationship between the two nations.
- Japan’s Decreasing Exports:
- Japan, another major scrap exporter, saw a decline in its exports to Taiwan. The island nation received 382,338 mt of scrap from Japan during the specified period, marking a 20.5% decrease from the previous year.
- Factors contributing to this decline may include changes in demand, market dynamics, and logistical challenges.
- June Figures:
- In June alone, Taiwan imported 261,749 mt of scrap. This represents a decrease of 10.5% compared to the previous month and an 11.6% decline year over year.
- Seasonal fluctuations and economic conditions likely influenced these numbers.
Implications and Outlook:
The decline in scrap imports reflects broader trends in the global recycling industry. As countries prioritize sustainability and environmental responsibility, the demand for recycled materials remains strong. However, market dynamics, geopolitical factors, and supply chain disruptions can impact trade flows.
Taiwan’s scrap industry will continue to adapt to changing circumstances, seeking reliable suppliers and optimizing its recycling processes. The collaboration between Taiwan, the US, and Japan in the scrap trade remains crucial for maintaining a sustainable circular economy.
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