USA: Ferrous Scrap Exports Slightly Decrease in Q3 CY’19

The United States, one of the major exporters of ferrous scrap globally, has witnessed a decrease in exports of ferrous scrap and coal in Q3 CY’19, while exports of finish Long & flat steel have moved up during this period, the recent data released by the customs department showed.

USA’s total crude steel production in Q3 CY’19 stood at 22.08 MnT, slightly decreasing by 1% Q-o-Q as against 22.36 MnT of production in Q2 CY’19.

The export of ferrous scrap from the United States has observed a slight decrease in Q3’19. The country exported 4.57 MnT scrap in Q3’19 as against 4.9 MnT exported in Q2’19, down by 7% Q-o-Q. However on a yearly basis, export of scrap has increased by 13% Y-o-Y from 4.06 scrap reported during the same period a year ago.

On a monthly basis, the country witnessed a sharp decrease in scrap exports by 38% M-o-M to 1.26 MnT in Sept’19 as against 1.74 MnT exported in Aug’19.

Due to downtrend in global scrap prices, the US origin HMS (80:20) offers to Turkey reached USD 265-270/ MT levels by Aug end, from USD 300/MT in the beginning of May’19, while exports to Turkey witnessed a slight increase on a quarterly basis.

Country-Wise: Turkey remained the largest importer of ferrous scrap occupying a 21% share in total USA scrap export, as it imported 0.96 MnT scrap in Q3’19, increasing by 3% Q-o-Q as against 0.93 MnT imported in Q2’19. Canada stood in the second position with a 13% share, importing 0.6 MnT in Q3’19 up 2% Q-o-Q.

Followed by the other prominent importers such as Taiwan (0.41 MnT, down by 7% Q-o-Q), Vietnam (0.62 MnT, up 94% Q-o-Q) and Mexico (0.37 MnT, stable Q-o-Q) in Q3’19.

Quantity in MnT
Source: SteelMint Stats & Customs Data