Taiwan finished steel export statistics in Feb '21
Taiwan's finished steel exports for Feb '21 has witnessed a decline across all segments both on a monthly and annual basis over improvement in domestic market consumption.
The detailed overview is mentioned below-
1.Finished Flat- Export volumes of flat steel products have dropped by 23% to 6,02,844 t in Feb '21 in contrast with shipments of 7,87,156 t a month ago. On a yearly basis the same went down by 24%.
Country-wise exports- Major importing nations were China at 77,824 t (down by 49%), Vietnam at 64,538 t (down by 45%), Malaysia at 55,946 t (down by 29%) and Japan at 61,052 t (down by 12%).
2. Finished long- Taiwan's long steel product exports in Feb '21 stood at 42,697 t in comparison to Jan's export volume of 61,236 t, plunging by 30% m-o-m and 31% y-o-y basis.
Country-wise exports- Export volumes to Australia stood at 10,047 t (down by 10%), China at 5,345 t (down by 37%), followed by Thailand 5,554 t (down by 22%) and Hong Kong at 5,704 t (down by 5%).
SteelMint analyses few factors that led to a plunge in export volumes-
- Growth in automobile sector- Taiwan's automobile sector performed well as per the data released by its Directorate of Highways. The sales volume stood at 51,179 units in Jan '21 as compared to 39,417 units in Jan '20, surging by 30% y-o-y basis. This further supported the demand for auto making steel in the domestic market.
- Revival in construction activities- With the surge in global pandemic and its containment related lockdowns, the construction projects were disrupted. But now, Taiwan's economy is boosting with an increase in investment by the government to improve its infrastructure and factory projects. This has led to an increase in domestic consumption.
3. Finished flat stainless steel- Export volumes in Feb '21 have slashed to 65,968 t as against 81,952 t in the previous month. Whereas, it has dropped by 13% at 75,566 t in Feb '20.
Country-wise exports- Export shipments to Italy spiked to 11,366 t in Feb '21 in comparison with 5,794 t in Jan '21. However, volumes to Belgium stood at 5,122 t (dropped by 19%), United States at 5,187 t (dropped by 12%) followed by United Arab Emirates (UAE) at 2,139 t in Feb 21.