Canada: Ferrous Scrap Exports Rise 21% Y-o-Y in April

Canada- one of the world’s major scrap exporters has witnessed a considerable rise in its scrap exports in Apr’18 on both monthly and yearly basis. Canadian ferrous scrap exports registered a second successive rise in its monthly ferrous scrap exports in Apr’18. Moreover, second largest importer Turkey imported almost double ferrous scrap from Canada in Apil on both M-o-M and Y-o-Y basis.

As per recent customs data, Canada exported 444,163 MT ferrous scrap in Apr’18 registering a rise 21% Y-o-Y as against 365,598 MT ferrous scrap exports recorded in Apr’17. On monthly premises, exports increased by 12% M-o-M as against 398,182 MT exports recorded in Mar’18. Notably, scrap exports in Apr’18 recorded highest during the first four months of 2018. While exports were increased by 50% M-o-M in Mar’18 from Canada.

In Apr’18, Canadian scrap exports to Turkey, Brazil and Mexico increased sharply as compared to exports during the same period last year. On the other hand, scrap exports to USA from Canada haven’t affected considerably because Canada had exempted from import tariffs under NAFTA agreement earlier. However, from 1st June USA has imposed similar tariffs on Canada again.

USA remained largest importer occupying highest 56% (246,497 MT, -10% M-o-M) share in total scrap exports in Apr’18. Followed by other major importers like Turkey (100,118 MT, +90% M-o-M), Mexico (30,000 MT, +14% M-o-M), Taiwan (10,676 MT, -1% M-o-M) and Bangladesh (8,585 MT, +33% M-o-M).

The country witnessed growing ferrous scrap exports in Apr’18 as the global average scrap export prices moved down by USD 10-15/MT in Apr’18 as compared to last month’s prices which could be attributed to increased demand from other major importers like Taiwan, Bangladesh and Vietnam.

Canadian scrap exports rose 22% Y-o-Y during Jan-Apr’18 – Canada exported around 1.44 MnT ferrous scrap in first four months of CY18 as against 1.18 MnT exports recorded during Jan-Apr’17.

USA remained the largest importer of Canadian ferrous scrap – USA imported 0.98 MnT ferrous scrap occupying 68% share of total scrap exports from Canada during Jan-Apr’18. Turkey remained second-largest scrap importer (0.24 MnT) with a significant increase of 380% Y-o-Y as against 0.05 MnT last year.

Followed by other major exporters like Mexico (0.06 MnT, +100% Y-o-Y), Taiwan (0.04 MnT, stable Y-o-Y), Brazil (0.03 MnT, up against minor volumes last year) and India (0.03 MnT, +80% Y-o-Y).  Other prominent importers like Bangladesh and Vietnam imported 0.02 MnT and Pakistan and China imported each 0.01 MnT from Canada.

According to World Steel Association, Canada produced 4.67 MnT crude steel during Jan-Apr’18, up marginally as compared to 4.51 MnT crude steel produced during the same period last year. Increasing domestic availability of scrap could have resulted in growing both crude steel production and scrap exports from Canada.

Country-wise Canada ferrous scrap exports –

Quantity In MnT,
Source: SteelMint Stats