Taiwan - Flat Steel Exports Increases 4% in Q1CY18
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As per latest custom data,Taiwan flat steel exports which includes 7208 (HR coils/Plates),7209(CR coils),7225(Electrical sheets),7210/7212(GP/GC) registered the growth of 4% in Q1CY18.
On quarterly basis nation has exported 2.23MnT of flat steel in comparison with 2.15 MnT in similar quarter of previous year.
Similarly on monthly basis country’s flat steel export volumes surged by 27% in Mar’18 to 0.80 MnT as compare to 0.63 MnT in Feb’18.
However on yearly premise the same went up 5% in Mar’18 against 0.76 MnT in Mar’17.
Commodity -Wise Flat Steel Exports in Mar’18
| Particulars | Mar’18 | Feb'18 | M-o-M (Change in %) | Mar’17 | Y-o-Y (Change in %) |
| HRC/Plate | 0.41 | 0.32 | 28.125 | 0.39 | 5.12 |
| Galvanized Steel | 0.23 | 0.16 | 43.75 | 0.18 | 27.77 |
| CRC | 0.09 | 0.08 | 12.5 | 0.12 | -25 |
| Electrical Steel | 0.06 | 0.05 | 20 | 0.06 | 0 |
| Others | 0.01 | 0.01 | 0 | 0.01 | 0 |
| Total | 0.80 | 0.63 | 27% | 0.76 | 5% |
Source-SteelMint Research
USA Imposed 25% of tariffs on steel imports from Taiwan - More than 10 Taiwanese steel products have been subjected to anti-dumping or countervailing duties by the US government, and duties on steel by 25% and aluminum imports by 10% announced by US President Trump in Mar’18.
According to Taiwan Steel & Iron Industries Association“The US market is Taiwan’s largest export destination for steel products”
Further they added that in the long term, the duties would prompt foreign steel makers to increase their investments in the US, which would further lower the country’s demand for steel imports and affect Taiwan’s steel industry
Country-Wise Taiwan Flat Steel Exports in Q1CY18- Taiwan flat steel exports to Vietnam stood at 0.33 MnT and accounts for 15 % of share in Q1CY18.
Second major importer was China which stood at 0.30 MnT occupied the share of 13.40% in Q1CY18.
Other major importers were Malaysia which stood at 0.21 MnT of,Japan at 0.20 MnT and Korea at 0.11 MnT in Q1CY17.
