SINGAPORE Taiwans ferrous scrap imports totaled 311,713 tonnes in May, down 10.4 percent from the previous month, according to the latest data from the Taiwan Steel and Iron Industries Association.
The decline was due to reduced demand for the steelmaking raw material, with steel companies scaling back production to lower their electricity bills during the warm summer months, an association official told AMM sister publication Steel First July 3. Steel mills are shutting down some production units for inspection and repair as well as reducing work hours during peak electricity usage periods, he said.
Customs figures compiled by the trade group showed that the United States remained the islands largest source of scrap, although May shipments of 188,634 tonnesaccounting for 60.5 percent of total importswere down 23 percent from 245,003 tonnes in April.
Imports from Japan, the second-largest source of scrap for Taiwan in May, soared to 30,980 tonnes from 8,542 tonnes the previous month. Imports from Hong Kong totaled 20,037 tonnes, up 57.5 percent from 12,719 tonnes in the same comparison.
A version of this article was first published by AMM sister publication Steel First.