United States: Ferrous Scrap Exports Rise 12% in August

Taiwan and Egypt witnessed significant rise while Turkey observed fall in scrap imports from US on monthly basis in Aug’18

United States – world’s second largest exporter of ferrous scrap after EU-28 has witnessed rise in its scrap exports by 12% M-o-M in August as against exports recorded in Jul’18. As per recent customs data, United States exported 1,532,817 MT ferrous scrap in Aug’18 as against 1,367,344 MT exports recorded in Jul’18. On yearly premises, exports increased by 16% Y-o-Y as against 1,392,223 MT exports recorded in Aug’17.

Earlier to this, USA ferrous scrap exports were recorded highest at 1,533,168 MT in May’18, thus the country has observed second highest export volume in Aug’18 so far in CY18.

Portwise – Top loading ports in US for scrap shipping activities in Aug’18 were New York City (0.25 MnT), Los Angeles (0.16 MnT), San Francisco (0.18 MnT), Philadelphia (0.15 MnT), Boston (0.10 MnT) and Seattle (0.10 MnT).

Turkey scrap imports from US down in Aug’18 on currency depreciation – After recording highest in Jul’18, USA ferrous scrap exports to Turkey fell down considerably by 19% M-o-M, totaling at 266,578 MT in Aug’18. While China’s dull appetite for US scrap continued amid stricter trade and inspection regulations in the country, importing just 14,116 MT ferrous scrap from US in Aug’18 down 34% M-o-M.

Taiwan stepped up at second largest importer position surpassing Mexico in Aug’18. Taiwan imported 174,496 MT ferrous scrap in Aug’18, up 33% M-o-M as against 117,176 MT ferrous scrap in Jul’18. Followed by, Mexico (153,138 MT, stable M-o-M), Egypt (140,341 MT, +29% M-o-M), Vietnam (71,695 MT, -23% M-o-M), Bangladesh (67,483 MT, -38% M-o-M) and Canada (57,724 MT, -8% M-o-M). India imported 38,507 MT ferrous scrap in Aug’18 as against 42,953 MT in Jul’18.

Rise in scrap exports in August could be attributed to pick up in scrap demand in most of the importing countries and lower global scrap prices.

USA scrap exports up 23% during Jan-Aug’18 – During first eight months of CY18, United States exported 11.13 MnT ferrous scrap, up considerably 23% Y-o-Y as against 9.04 MnT ferrous scrap during Jan-Aug’17. Major importers like Turkey, Taiwan, India and Vietnam observed considerable rise in scrap imports as compared with same period last year from USA on rising scrap usage in steel production.

It is expected that US exports may climb above 17 MnT in CY18 witnessing significant increase against 15 MnT in CY17. Also, domestic scrap collection rates and local consumption remained high in USA amid rising demand for high grade scrap from major importers in CY18.

Country-wise United States ferrous scrap exports –

Quantity in MnT,
Source: SteelMint Stats