China continues to remain net exporter of ferrous scrap consecutively for the fourth month since Jun’17 with 0.51 MnT exports and 0.15 MnT imports in Sept’17.
China world’s largest steel maker has witnessed marginal rise in its ferrous scrap imports in September month in CY17. As per customs data, China has imported 0.15 MnT ferrous scrap in Sept’17 and registered a rise of 7% M-o-M against 0.14 MnT ferrous scrap imports in Aug’17.
On yearly premises, China has registered a decline of 12% Y-o-Y in its ferrous scrap imports as imports were at 0.17 MnT in Sept’16.
During Jan-Sept’17, the country has imported 1.74 MnT ferrous scrap which has shown 15% growth Y-o-Y against 1.51 MnT ferrous scrap imports during same time frame of CY16 (Jan-Sept’17).
Thus, China turned out to be net exporter of ferrous scrap in Sept’17 again. Remarkably China is exporting scrap than imports since last four months in this fiscal. However, recently leading steel producers in China have lifted domestic scrap purchase prices and started buying scrap aggressively in order to restock ahead of approaching winter season. The strong demand for steel scrap in China’s domestic market may result in reduced export volumes in the near term.
Japan remained the largest supplier of ferrous scrap to China –
Japan continued to supply highest occupying almost 80% share of total ferrous scrap imports in China in Sept’17. Japan exported 0.12 MnT in Sept’17 to China which remained nearly unchanged with same volumes exported in Aug’17. South Korea exported 0.01 MnT ferrous scrap to China in Sept’17.
Ferrous scrap exports during Jan-Sept’17 period from Japan summed up to 1.31 MnT comprising 75% share of total ferrous scrap imports in China during Jan-Sept’17.
United States witnessed rise of 22 times in scrap exports to China with 0.22 MnT ferrous scrap exports during Jan-Sept’17 against less than 0.01 MnT exports in Jan-Sept’16.
Country-wise China ferrous scrap imports –
| Country | Sept’17 | Aug’17 | M-o-M % Change | Sept’16 | Y-o-Y % Change | Jan-Sept’17 | Jan-Sept’16 | % Change |
| Japan | 0.12 | 0.12 | 0.00% | 0.15 | -20.00% | 1.31 | 1.35 | -2.96% |
| United States | 0 | 0 | _ | 0 | _ | 0.22 | 0.01 | +2100.00% |
| South Korea | 0.01 | 0 | _ | 0.01 | 0.00% | 0.05 | 0.06 | -16.67% |
| Australia | 0 | 0 | _ | 0 | _ | 0.04 | 0.01 | +300.00% |
| Others | 0.02 | 0.02 | 0.00% | 0.01 | +100.00% | 0.12 | 0.08 | +50.00% |
| Total | 0.15 | 0.14 | +7.14% | 0.17 | -11.76% | 1.74 | 1.51 | +15.23% |
Quantity In MnT,
Source: SteelMint Stats
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