USA – world’s second largest exporter of ferrous scrap after EU-28 (Europe) has witnessed significant growth in its scrap exports by 34% M-o-M in Feb’18 as against exports in Jan’18.
As per recent customs data, United States exported 1.47 MnT ferrous scrap in Feb’18 as against 1.10 MnT exports in Jan’18. Also if the yearly comparison is made, ferrous scrap exports registered an increase of 20% Y-o-Y as against 1.23 MnT exports in Feb’17.
In first two months period, United States exported 2.57 MnT ferrous scrap witnessing 18% Y-o-Y growth as against 2.17 MnT scrap exports recorded in the same period of last year.
Notably, Ferrous scrap exports observed growth in Feb’18 after registering two consecutive falls in last three months. Rise in ferrous scrap exports could be attributed to increase in scrap purchase activities amid good demand from major importers like Mexico (up 69% M-o-M), Vietnam (up 267% M-o-M), Turkey (up 3% M-o-M) and Malaysia (up 600% M-o-M). Average global scrap prices also had moved down by USD 10-15/MT in Feb’18 as compared to last month’s prices.
However, scrap exports from USA are expected to fall further in the coming months after the announcement of 25% import tariffs on steel imports to USA under section 232. As this has already resulted in an increase in domestic purchases and consumption of scrap by EAF’s steelmakers located in USA. Domestic steel prices in USA have increased sharply post imposition of import tariffs According to sources, in last 3-4 weeks, USA based yards remained preferring to sell materials to domestic buyers than exporting it amid the availability high price margins in the local markets.
Top loading ports in USA for scrap shipping activities in Jan-Feb’18 were Los Angeles (0.41 MnT), New York City (0.30 MnT), Boston (0.23 MnT), San Francisco (0.20 MnT), Columbia Snake (0.17 MnT), Laredo (0.17 MnT) and Seattle. 
Turkey’s scrap imports from United States ascent marginally in Feb’18 – In Feb’18, United States exported highest 0.32 MnT ferrous scrap to Turkey occupying 22% share of total scrap exports. Turkey remained largest importer with a marginal ascent by 3% M-o-M as against 0.31 MnT in Jan’18. Mexico imported 0.22 MnT ferrous scrap in Feb’18 which has increased 69% M-o-M against 0.13 MnT in Jan’18. Followed by Taiwan (0.15 MnT, +25% M-o-M), Vietnam (0.11 MnT, 267% M-o-M) and China (0.10 MnT, -23% M-o-M) respectively.
Thailand, Malaysia and Kuwait witnessed sharp growth in scrap imports from USA in Feb’18 – Thailand imported 0.08 MnT ferrous scrap from USA in Feb’18 which surged sharply against minor imports in Jan’18. While Malaysia imported 0.07 MnT (+600% M-o-M) and Kuwait imported 0.07 MnT ferrous scrap (+250% M-o-M) respectively. However, India, Pakistan and Bangladesh witnessed a reduced amount of scrap imports from USA in Feb’18.
Country-wise United States ferrous scrap exports –
| Country | Feb’18 | Jan’18 | M-o-M % Change | Feb’17 | Y-o-Y % Change | Jan-Feb’18 | Jan-Feb’17 | % Change |
| Turkey | 0.32 | 0.31 | 3.23% | 0.36 | -11.11% | 0.63 | 0.44 | 43.18% |
| Mexico | 0.22 | 0.13 | 69.23% | 0.16 | 37.50% | 0.35 | 0.34 | 2.94% |
| Taiwan | 0.15 | 0.12 | 25.00% | 0.13 | 15.38% | 0.27 | 0.23 | 17.39% |
| China | 0.10 | 0.13 | -23.08% | 0.05 | 100.00% | 0.22 | 0.13 | 69.23% |
| Vietnam | 0.11 | 0.03 | 266.67% | 0.11 | 0.00% | 0.15 | 0.16 | -6.25% |
| Others | 0.57 | 0.38 | 50.00% | 0.42 | 35.71% | 0.95 | 0.87 | 9.20% |
| Total | 1.47 | 1.10 | 33.64% | 1.23 | 19.51% | 2.57 | 2.17 | 18.43% |
Quantity in MnT
Source: SteelMint Stats
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