The largest exporter of scrap US and the fifth largest exporter of scrap Canada saw a drop in their exports for the first quarter of 2017. Exports of US and Canada dropped down by 14% and 19% respectively as compared to fourth quarter of 2016.
In the first quarter of 2017, US being the largest exporter of scrap didn’t quite export according to its capacity and in comparison to fourth quarter of last year its exports declined by 14%. US exports totaled to around 3.5 MnT in Q4 2016 which dropped down to 3 MnT in Q1 2017. However, if compared to Q1 2016 it has significantly risen up by 21% as the country had imported 2.4 MnT.
The largest scrap export destination was Turkey importing 0.54 MnT during the quarter one 2017. Export to Turkey declined by 60% as compared to exports in last quarter of 2016 which totaled to 0.83 MnT. Followed by Mexico, Taiwan and China
Canada who takes the spot of being the fifth largest country in exporting scrap exported around 1 MnT in Q4 2016 and in Q1 2017 it exported around 0.81 MnT scrap accounting almost a drop of 19%.
According to Steelmint Analysis, “USA scrap exports have dipped down in Q1 2017 as the country needed the scrap domestically to fulfil the increased requirement of crude steel.”
US Scrap Import
US is also amongst the top 5 major scrap importing countries. Its scrap imports totaled to 1.1 MnT in the first quarter of 2017 showing a significant rise by 30% in lieu of Q4 2016 where the country importer 0.76 MnT. If compared to Q1 last year the imports have raised by almost 24%.
US has a high domestic requirement of scrap, which has increased the imports in the starting quarter of 2017.
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