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Stronger NT dollar benefits Taiwan’s imports of raw materials

5 May 2025 14:47 reported by Joy Liu

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Taiwan's sharply appreciating NT dollar, with an increase hitting a 23-year high last week, acts negatively and positively for Taiwan’s steel industry. Some wire rod and steel pipe mills said cheaper imports offer cost relief for raw materials, but exporters face reduced revenue and order challenges.

Some wire rod producers are considering increased imports, but weak down-stream demand from the tariff-hit screw sector brought about uncertainty to the market.

Electric arc furnace (EAF) steel mills benefit from cheaper imported scrap due to the stronger NT dollar and falling scrap prices, though low rebar prices and local scrap availability may limit increased purchasing.

Overall, currency fluctuations present both cost-saving opportunities for import-ers and headwinds for export-oriented steel manufacturers.

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