United States: Ferrous Scrap Exports Rise 46% Y-o-Y in May

Indian scrap imports from USA increased 77% Y-o-Y during Jan-May’18

United States – world’s second largest exporter of ferrous scrap after EU-28 has witnessed a rise in its scrap exports by 46% Y-o-Y in May’18 as against exports recorded in May’17. As per recent customs data, United States exported 1,533,138 MT ferrous scrap in May’18 as against 1,047,021 MT ferrous scrap in May’17.

On monthly premises, exports increased marginally by 2% as against 1,503,644 MT exports recorded in Apr’18. Notably, scrap exports in May’18 recorded highest during the first five months of 2018.

In May’18, Top loading ports in US for scrap shipping activities were New York City (18%), Los Angeles (15%), San Francisco (9%), Boston (8%), Philadelphia (7%), Columbia Snake (7%), Laredo (6%) and Seattle (5%).

Mexico stepped up surpassing Turkey as the largest importer in May’18 – Mexico occupied a largest share of USA scrap exports i. e. 14% in May’18. Mexico imported 220,388 MT scrap exports, up 47% Y-o-Y in May’18. Turkey witnessed sharp fall in scrap imports in May amid weak finish steel demand and economic instability. Turkey imported 215,238 MT, followed by other major importers like Taiwan (181,537 MT), India (181,497 MT), Canada (80,118 MT), Vietnam (54,746 MT), Bangladesh (34,089 MT) and China (28,429 MT) occupying 12%, 12%, 5%, 4%, 3% and 2% share in total USA scrap exports in May’18.

In May’18, Egypt witnessed a sharp surge in ferrous scrap imports on M-o-M basis as against nil imports recorded in last two months. Egypt imported 198,404 MT occupying 13% share and stood as the third largest importer from USA in May’18.

Average scrap export prices from USA moved down by USD 8-12/MT in second half of May’18 as compared to last month’s prices this could be attributed to rise in demand from major importers however, exports moved up marginally M-o-M amid seasonal slowdown and increased domestic consumption on an influence of USA tariffs in May’18. After 1st June, USA imposed similar tariffs on earlier exempted allies like Canada, Mexico and Eu-28 which may impact export volumes to these countries in upcoming months.

USA scrap exports rose 35% Y-o-Y during Jan-May’18 – United States exported 7.07 MnT ferrous scrap in during Jan-May’18 as against 5.22 MnT during the same period last year. The increase in ferrous scrap exports from US could be attributed to an increase in scrap generation and purchase activities as demand remained strong from major importers.

Indian scrap imports from USA increased 77% Y-o-Y during Jan-May’18. India imported 0.53 MnT ferrous scrap in Jan-May’18 and stood fourth largest importer as against 0.30 MnT recorded in same period last year.

During Jan-May’18, Turkey imported 1.52 MnT (+46% Y-o-Y) ferrous scrap occupying 22% share. Followed by Mexico which remained as the second largest buyer and imported 0.92 MnT with an increase of 30% Y-o-Y. Other prominent importers were Taiwan (0.80 MnT, +33% Y-o-Y), China (0.41 MnT, -2% Y-o-Y), Canada (0.35 MnT, +6% Y-o-Y), Vietnam (0.32 MnT, +10% Y-o-Y) and Bangladesh (0.30 MnT, 150% Y-o-Y) respectively.

Country-wise United States ferrous scrap exports –

Quantity in MnT
Source: SteelMint Stats