– Chinese scrap exports jumped 151% M-o-M in Jun’17
– China turned out to be net ferrous scrap exporter in June
– India emerged as 5th largest importer of Chinese scrap in Jun’17
China world’s biggest steel producer has registered surge of 151% M-o-M in its ferrous scrap exports in Jun’17. According to recently released customs data, the country exported 201,679 MT ferrous scrap in Jun’17 compared to 80,345 MT ferrous scrap in May’17.On the other hand, scrap imports to the country in Jun’17 stood at 185,271 MT making the country net scrap exporter in Jun’17.
In Q2 CY17 scrap exports stood at 297,383 MT up tremendously against just 720 MT exports in Q1 CY17. With Chinese government laying stricter regulations on electric arc furnace steelmakers led to increase in scrap exports from China. The Chinese government’s directive to eliminate scrap-fed induction melting furnaces in the country by June 30, led to a huge turnaround despite of imposed 40% export duty.
During the first half (H1) of CY17, China’s ferrous scrap exports summed up at 298,103 MT.However, total ferrous scrap imports summed at 1.31 MnT in H1 CY17, up 34% against 0.98 MnT imports in H1 of CY16.
India emerged as 5th largest importer of Chinese scrap in Jun’17 –
Taiwan remained the largest destination for Chinese ferrous scrap, and imported highest 76,265 MT comprising 38% share in total Chinese ferrous scrap exports in Jun’17.
Followed by other South-East Asian countries like Indonesia (27,585 MT), Vietnam (19,749 MT), Hong Kong (19,258 MT) occupying share of 14 %, 10% and 9% of total ferrous scrap exports respectively.
Rise in Chinese scrap imports to India was noticed in Jun’17 and it imported 15,467 MT ferrous scrap making it to be the 5th largest importer with 7.5 % share in of total Chinese ferrous scrap exports in Jun’17.
Other major importers of Chinese ferrous scrap were Korea, Thailand, Malaysia, Japan and Pakistan in Jun’17.
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