Canada recorded highest monthly ferrous scrap exports in Dec’17 since 2015, Yearly scrap exports leaped above 4 MnT the first time in 2017 in past two years amid strong global scrap demand.
Canada- one of the world’s major scrap exporters has witnessed significant rise in its ferrous scrap exports in 2017. As per recently released customs data, the nation exported 4.24 MnT ferrous scrap during 2017 as against 3.37 MnT ferrous scrap exports recorded in 2016. Thus, yearly scrap exports leaped above 4 MnT the first time since 2015 registering growth of 26% Y-o-Y in 2017.
Canada exported 0.48 MnT ferrous scrap in Dec’17, up 50% M-o-M as against 0.32 MnT exports in Nov’17. Likewise, if the yearly comparison is made ferrous scrap exports registered significant rise of 85% Y-o-Y against 0.26 MnT ferrous scrap in Dec’16.
During the second half of 2017, Canada exported 2.18 MnT ferrous scrap which has increased by 18% against 1.85 MnT in H2-2016. Also, exports in H2-CY17 moved up 6% against 2.06 MnT exports in H1-2017.
Canada witnessed increase in ferrous scrap exports by 37% Q-o-Q in Q4-CY17. As against 0.92 MnT exports in Q3-CY17, Canada ferrous scrap exports stood at 1.26 MnT in Q4-CY17.
Rise in ferrous scrap exports could be attributed to strong scrap demand and significantly increasing imports from major importers like United States, Mexico, Turkey, Pakistan and Vietnam compared to last year.
United States scrap imports from Canada increased 15% Y-o-Y in 2017 –
United States imported highest 3.03 MnT ferrous scrap from Canada occupying 71% share of total scrap exports. Its import volumes have increased by 15% against 2.64 MnT in CY16. Turkey remained second largest importer at 0.59 MnT (+84% Y-o-Y) ferrous scrap followed by Mexico (0.20 MnT), Taiwan (0.08 MnT), China (0.05 MnT) and Vietnam (0.04 MnT) respectively.
In Dec’17, Canada supplied the highest share of ferrous scrap exports to USA (0.23 MnT) followed by Turkey (0.15 MnT), Egypt (0.05 MnT), Pakistan (0.03 MnT) while India, China and Taiwan imported 0.01 MnT each from Canada.
India, Bangladesh and Pakistan imported almost 0.18 MnT scrap from Canada in CY17 –
In CY17, India imported 0.07 MnT from Canada which has declined -42% Y-o-Y as against 0.12 MnT in 2016 while Pakistan and Bangladesh imported 0.05 MnT (+150% Y-o-Y) and 0.06 MnT ferrous scrap respectively.
Country-wise Canada ferrous scrap exports –
| Country | 2017 | 2016 | % Change | Dec’17 | Nov’17 | M-o-M % Change | Dec’16 | Y-o-Y % Change |
| United States | 3.03 | 2.64 | +14.77% | 0.23 | 0.23 | 0.00% | 0.23 | 0.00% |
| Turkey | 0.59 | 0.32 | +84.38% | 0.15 | 0.05 | +200.00% | 0 | _ |
| Mexico | 0.20 | _ | _ | _ | 0 | _ | _ | _ |
| Taiwan | 0.08 | 0.08 | 0.00% | 0.01 | 0.01 | 0.00% | 0.01 | 0.00% |
| India | 0.07 | 0.12 | -41.67% | 0.01 | 0.01 | 0.00% | 0.01 | 0.00% |
| Others | 0.27 | 0.21 | +28.57% | 0.08 | 0.02 | +300.00% | 0.01 | +700.00% |
| Total | 4.24 | 3.37 | +25.82% | 0.48 | 0.32 | +50.00% | 0.26 | +84.62% |
Quantity In MnT,
Source: SteelMint Stats
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