Ferrous scrap continues to remain an important feed stock for steel making especially after rising coking coal prices and decrease in billet export by China. In this report we have tried to collate the top five importers of ferrous scrap in first ten months of 2016 (Jan-Oct).
It was observed that seaborne scrap trade has picked up in Turkey, India and USA. It is expected that scrap seaborne trade will remain strong owing to falling billet exports from China and rising cost of production by blast furnace manufacturers.
Turkey Ferrous Scrap Import Increased by 7% Y-o-Y
Turkey remained the largest importer followed by South Korea, India, US and Taiwan. The nation imported around 14 MnT ferrous scrap during the first ten month of CY’16, Imports are up by 7% Y-o-Y against around 13 MnT imported during the same period in CY’15. Major exporters to Turkey were USA, Russia and United Kingdom. The nation imported around 16.22 MnT in CY’15.
| Countries | Jan-Oct’15 | Jan-Oct’16 | Y-o-Y |
| USA | 2.96 | 2.69 | -9% |
| Russia | 2.07 | 2.27 | 10% |
| United Kingdom | 1.98 | 1.92 | -3% |
| Netherlands | 0.82 | 1.90 | 132% |
| Belgium | 1.09 | 1.52 | 39% |
| Others | 4.26 | 3.83 | -10% |
| Grand Total | 13.18 | 14.13 | 7% |
Source: Turkey Customs
South Korea Ferrous Scrap Import Remained Stable
South Korea imported around 4.70 MnT ferrous scrap during Jan-Oct’16 and around same quantity was imported during the same period in last year. Major exporters to South Korea were Japan, Russia, United Stated and Slovenia. Import during CY’15 by the nation was around 5.46 MnT.
| Countries | Jan-Oct’15 | Jan-Oct’16 | Y-o-Y |
| Japan | 2.60 | 2.76 | 6% |
| Russian Federation | 0.77 | 0.85 | 10% |
| United States | 0.83 | 0.76 | -8% |
| Slovenia | 0.10 | 0.02 | -80% |
| Puerto Rico | 0.06 | 0.05 | -17% |
| Others | 0.37 | 0.26 | -30% |
| Grand Total | 4.72 | 4.70 | 0% |
Source: South Korea Customs
Ferrous Scrap Import by India increased by 1% Y-o-Y
India imported around 4.58 MnT ferrous scrap during Jan-Oct’16, registered a growth of 1% Y-o-Y against 4.53 MnT ferrous scrap imported during the same period in CY’15. The nation imported 5.73 MnT in CY’15. Major exporters to the nation were USA, United Kingdom, U.A.E and South Africa.
| Countries | Jan-Oct’15 | Jan-Oct’16 | Y-o-Y |
| United States | 0.60 | 0.88 | 47% |
| United Kingdom | 0.62 | 0.75 | 21% |
| United Arab Emirates | 0.72 | 0.63 | -13% |
| South Africa | 0.62 | 0.19 | -69% |
| Australia | 0.27 | 0.23 | -15% |
| Others | 1.70 | 1.90 | 12% |
| Grand Total | 4.53 | 4.58 | 1% |
Source: Customs, SteelMint
Ferrous Scrap Import by USA increased by 5% Y-o-Y
USA being second largest exporter of ferrous scrap which exported around 13 MnT in CY’15 is also one of the largest importer of ferrous scrap. The nation imported 3.09 MnT during the first ten months of CY’16, registered a growth of 5% Y-o-Y against 2.95 MnT imported during the same period in CY’15. Major exporters to USA were Canada, United Kingdom, Sweden, Netherlands and Mexico. The nation imported around 3.40 MnT in CY’15.
| Countries | Jan-Oct’15 | Jan-Oct’16 | Y-o-Y |
| Canada | 2.34 | 2.17 | -7% |
| United Kingdom | 0.18 | 0.33 | 83% |
| Sweden | 0.17 | 0.26 | 53% |
| Netherlands | 0.11 | 0.18 | 64% |
| Mexico | 0.13 | 0.11 | -15% |
| Others | 0.02 | 0.03 | 50% |
| Grand Total | 2.95 | 3.09 | 5% |
Source: USA Customs
Ferrous scrap import by Taiwan Decreases by 8% Y-o-Y
Taiwan imported around 2.52 MnT in Jan-Oct’16, registered a downfall of 8% Y-o-Y against 2.75 MnT imported during the same period in CY’15. Major exporters to Taiwan were USA, Japan, Australia and Hong Kong. The nation imported around 3.11 MnT in CY’15.
| Countries | Jan-Oct’15 | Jan-Oct’16 | Y-o-Y |
| United States | 1.29 | 1.10 | -15% |
| Japan | 0.75 | 0.73 | -3% |
| Australia | 0.08 | 0.11 | 38% |
| Hong Kong | 0.16 | 0.12 | -25% |
| Philippines | 0.04 | 0.05 | 25% |
| Others | 0.43 | 0.41 | -5% |
| Grand Total | 2.75 | 2.52 | -8% |
Source: Taiwan Customs
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