USA – world’s second largest exporter of ferrous scrap after EU-28 (Europe) has witnessed a rise in its scrap exports by 33% Y-o-Y in Q1 2018 as against exports recorded in Q1 2017.
As per recent customs data, United States exported 4.03 MnT ferrous scrap in Q1’2018 as against 3.02 MnT exports recorded in Q1’2017. On the other hand, US scrap exports dropped marginally by 5% Q-o-Q in Q1 2018 as against 4.25 MnT ferrous scrap exports in during the fourth quarter of 2017.
Top loading ports in US for scrap shipping activities in Q1’2018 were Los Angeles (0.74 MnT), New York City (0.59 MnT), San Francisco (0.36 MnT), Boston (0.27 MnT), Laredo (0.26 MnT), Columbia Snake (0.23 MnT) and Philadelphia (0.23 MnT).
Turkey remained the largest importer of USA ferrous scrap in Q1’18 – Turkey imported 0.98 MnT ferrous scrap occupying 24% share of total scrap exports from US in Q1’2018. Turkey remained largest scrap importer with a significant increase of 78% Y-o-Y as against 0.55 MnT in Q1 2017. Mexico stood as the second largest buyer and imported 0.47 MnT with marginal increase of 7% Y-o-Y. Followed by other prominent importers as Taiwan (0.42 MnT, +17% Y-o-Y), China (0.26 MnT, -7% Y-o-Y) and Vietnam (0.24 MnT, +41% Y-o-Y) respectively.
Indian scrap imports from US multiplied more than three folds on Y-o-Y basis. India imported 0.24 MnT ferrous scrap in Q1 2018 as against 0.07 MnT recorded in Q1 2017. The increase in ferrous scrap exports from US could be attributed to an increase in scrap purchase activities amid strong demand from major importers.
United States ferrous scrap exports almost stable in Mar’18 – United States exported 1.46 MnT ferrous scrap in Mar’18 while its exports were recorded at 1.47 MnT in Feb’18. After the announcement of import tariffs on steel imports to US under section 232, scrap exports from US have not significantly affected moreover sharp increase in domestic scrap purchases and improved consumption by EAF’s steelmakers have been witnessed in US. This has resulted in limited scrap export offers from US.
The country witnessed stable ferrous scrap exports in Mar’18 despite strong prices on firm demand from importers like Turkey, India, Taiwan and Thailand. USA ferrous scrap exports witnessed a sharp growth by 72% on Y-o-Y basis in Mar’18 as against 0.85 MnT exports in Mar’17.
Turkey remained largest importer occupying 24% (0.35 MnT, +9% M-o-M) share in total scrap exports in Mar’18. Followed by other major importers like Taiwan (0.15 MnT, stable M-o-M), India (0.13 MnT, +225% M-o-M), Mexico (0.13 MnT, +41% M-o-M), Vietnam (0.09 MnT, -18% M-o-M), Peru (0.09 MnT, +200% M-o-M) and Thailand (0.08 MnT, stable M-o-M).
Average scrap export prices from US moved up by USD 10-15/MT in Mar’18 as compared to last month’s prices, despite which strong demand from importers and improved purchases before impact of USA tariffs kept USA scrap exports stable in Mar’18.
Country-wise United States ferrous scrap exports –
| Country | Q1 2018 | Q1 2017 | Y-o-Y % Change | Q4 2017 | Q-o-Q % Change | Mar’18 | Feb’18 | M-o-M % Change |
| Turkey | 0.98 | 0.55 | 78.18% | 1.07 | -8.41% | 0.35 | 0.32 | 9.37% |
| Mexico | 0.47 | 0.44 | 6.82% | 0.30 | 56.67% | 0.13 | 0.22 | -40.91% |
| Taiwan | 0.42 | 0.36 | 16.67% | 0.32 | 31.25% | 0.15 | 0.15 | 0.00% |
| China | 0.26 | 0.28 | -7.14% | 0.21 | 23.81% | 0.04 | 0.10 | -60.00% |
| India | 0.24 | 0.07 | 242.86% | 0.14 | 71.43% | 0.13 | 0.04 | 225.00% |
| Others | 1.66 | 1.32 | 25.76% | 2.21 | -24.89% | 0.66 | 0.64 | 3.13% |
| Total | 4.03 | 3.02 | 33.44% | 4.25 | -5.18% | 1.46 | 1.47 | -0.68% |
Quantity in MnT
Source: SteelMint Stats
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