Ferrous scrap exports from Canada have increased 53% M-o-M in Oct’17 and have recorded at highest monthly exports since 2015.
Canada-one of the world’s major scrap exporters has witnessed rise of 53% M-o-M in its ferrous scrap exports in Oct’17. As per recently released customs data, the nation has exported 0.46 MnT ferrous scrap in Oct’17 against 0.30 MnT ferrous scrap exports in Sept’17.
On yearly premises, export volumes have grown by 21% Y-o-Y in Oct’17 as Canada’s exports were 0.38 MnT ferrous scrap in Oct’16.
Rise in ferrous scrap exports from Canada could be attributed to sharp hike in scrap demand amid restocking activities in major importer countries well before winters. Usually, during winters scrap collection rate drops down and prices increase sharply.
Notably ferrous scrap exports from Canada hit highest in Oct’17 so far since 2015. These figures are at highest on monthly basis in customs data maintained for Canadian scrap exports during last three years (CY15-CY17) with SteelMint.
United States remained largest importer of ferrous scrap from Canada –
USA remained the largest importer comprising 54% of total Canadian ferrous scrap exports in Oct’17.USA imported 0.25 MnT ferrous scrap from Canada in Oct’17.
Turkey imported significant volumes of ferrous scrap (0.13 MnT) in Oct’17 after remaining silent successively during previous three months (Jul-Sept’17) with nil imports from Canada. Thus, Turkey remained second largest importer of Canadian ferrous scrap in Oct’17.
In Oct’17, Mexico imported 0.04 MnT scrap from Canada while other major importers like Taiwan, Bangladesh and India imported each 0.01 MnT ferrous scrap from Canada respectively.
Canada ferrous scrap exports up 23% Y-o-Y during Jan-Oct’17 –
During the first ten months of CY17, Canada exported 3.43 MnT ferrous scrap registering a hike of 23% Y-o-Y against 2.78 MnT ferrous scrap exports during the period Jan-Oct’16.The country had exported total 3.37 MnT ferrous scrap over a span of CY16.
During Jan-Oct’17, United States imported highest 2.57 MnT ferrous scrap occupying almost 75% of total Canadian ferrous scrap exports followed by Turkey (0.39 MnT), Mexico (0.20 MnT) and Taiwan (0.06 MnT) respectively. Bangladesh and India each have imported 0.05 MnT ferrous scrap so far in CY17 from Canada.
Country-wise Canada ferrous scrap exports –
| Country | Oct’17 | Sept’17 | M-o-M % Change | Oct’16 | Y-o-Y % Change | Jan-Oct’17 | Jan-Oct’16 | % Change |
| United States | 0.25 | 0.26 | -3.85% | 0.20 | +25.00% | 2.57 | 2.17 | +18.43% |
| Turkey | 0.13 | 0 | _ | 0.11 | +18.18% | 0.39 | 0.27 | +44.44% |
| Mexico | 0.04 | 0.01 | +300.00% | 0.05 | -20.00% | 0.20 | _ | _ |
| Taiwan | 0.01 | 0.01 | 0.00% | 0 | _ | 0.06 | 0.07 | -14.29% |
| Bangladesh | 0.01 | 0.01 | 0.00% | 0.01 | 0.00% | 0.05 | 0.06 | -16.67% |
| Others | 0.02 | 0.01 | +100.00% | 0.01 | 0.00% | 0.16 | 0.21 | -23.81% |
| Total | 0.46 | 0.30 | +53.33% | 0.38 | +21.05% | 3.43 | 2.78 | +23.38% |
Quantity In MnT,
Source: SteelMint Stats
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