China – world’s largest steel producer has registered surge of 141% M-o-M in its ferrous scrap exports in Aug’17. According to recently released customs data, the country exported 411,220 MT ferrous scrap in Aug’17 compared to 170,338 MT ferrous scrap in Jul’17.
On yearly premises, China has witnessed mammoth growth in its exports in Aug’17 as ferrous scrap exports were just 80 MT in Aug’16.
During the first eight months of CY17, China’s ferrous scrap exports summed up at 879,664 MT.
India emerged as 5th largest importer of Chinese scrap in Aug’17 –
Taiwan remained the largest destination for Chinese ferrous scrap and imported highest 109,800 MT comprising 27% share in total Chinese ferrous scrap exports in Aug’17.
Followed by other South-East Asian countries like Thailand (102,400 MT), Indonesia (67,600 MT), Vietnam (37,200 MT) and Hong Kong (20,000 MT) occupying shares of 25%, 16%, 9% and 5% of total ferrous scrap exports respectively.
The rise in Chinese scrap imports to India was noticed in Aug’17 and it imported 23,000 MT ferrous scrap making it to be the 5th largest importer with 6% share in of total Chinese ferrous scrap exports in Aug’17.
Other major importers of Chinese ferrous scrap were Korea, Malaysia, Japan and Pakistan in CY17.
Majority of the scrap exports from China were mainly concentrated in southern China namely Guandong, Fujian provinces. Other major provinces for scrap generation were – Tianjin and Nanning.
Domestic scrap supply in China is still in oversupply with recent domestic environmental and tax inspections in place.
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