Ferrosilicon import market situation in Taiwan China in the second half of 2023

In the second half of 2023, Taiwan's import volume of ferrosilicon (Si≥55%) was 5,764.00 metric tons, compared with 6,744.00 metric tons in the same period of 2022 and 5,524.00 metric tons last month, a year-on-year decrease of 14.53% and a month-on-month increase of 4.34%.In 2023, Taiwan, China, imported a total of 49,364.00 metric tons of ferrosilicon (Si>55%), compared with 54,591.00 metric tons in the same period last year, a year-on-year decrease of 9.57%.

The main importing countries of Taiwan's ferrosilicon are 1: China 2: Norway 3: Brazil. When the mainland lifted its blockade in early 2023, it also encountered the credit crisis of European and American banks and the serial debt defaults of China's large state-owned real estate developers. In addition, the lack of control over crude steel in mainland China and the weak steel demand have triggered a flanking attack between strong supply and weak demand. In addition, frequent geopolitical risks, and the upcoming presidential election in 2024 at the end of the year have directly led to the continuous delay in the recovery of the steel market! Due to the upcoming general election in 2023, Taiwan's leading steel mills (Sinosteel, Huaxin, Tang Rong, Rong Gang, Yelian, Fengxing), which have been subject to economic sanctions from the mainland, have to turn their procurement focus to the pro-American "Brazil & Norway" In order to replace the risk of insufficient supply, various global economic crises and geopolitical issues between the two sides of the Taiwan Strait have led to a certain significant decline in Taiwan's hot and cold rolling production in 2023.