Taiwanese stainless steel scrap exports to Indonesia surge in Apr
17 Jun 2019 16:00 reported by Jordan Huang
According to the statistic from the Taiwanese customs, Taiwanese stainless steel exports had shown a dramatically increase in April. There were over 50% of the stainless steel scrap sold to Indonesia. The interpretation from the market was because of Tsingshan Indonesia, one of the global stainless steel giants.
In the first quarter, the number of Taiwanese stainless steel scrap exports to Indonesia was zero. As Indonesia was a nickel mining area and theoretically had low dependence on imported stainless steel scrap, it was unusual for the figure in April.
The market expected that the reason was because of Tsingshan Indonesia. Tsingshan Indonesia had established a steel mill in the Indonesian nickel mining area which made its price very competitive.
After ordering the stainless steel scrap from Taiwan, Tsingshan Indonesia immediately lifted the price of domestic stainless steel scrap, which encouraged the upstream steel mills continued to increase their price, making it more dependent on purchasing semi-finished products from Tsingshan Indonesia.
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