China continues to remain net exporter of ferrous scrap consecutively for the fifth month since Jun’17 with 0.29 MnT exports and 0.17 MnT imports in Oct’17.
China world’s largest steel maker has witnessed rise in its ferrous scrap imports in October month of CY17.As per customs data, China has imported 0.17 MnT ferrous scrap in Oct’17 and registered a rise of 13% M-o-M against 0.15 MnT ferrous scrap imports in Sept’17.
On yearly premises, China has registered marginal increase of 6% Y-o-Y in its ferrous scrap imports as imports were at 0.16 MnT in Oct’16.
During Jan-Oct’17, the country has imported 1.91 MnT ferrous scrap which has shown 14% growth Y-o-Y against 1.67 MnT ferrous scrap imports during same time frame of CY16 (Jan-Oct’16).
Thus, China turned out to be net exporter of ferrous scrap in Oct’17 again as scrap exports from China in Oct’17 stood at 0.29 MnT. Remarkably China is exporting higher scrap than imports since last five months in this fiscal. However, recently leading steel producers in China have lifted domestic scrap purchase prices and started buying scrap aggressively in order to restock amid tightened supply in winter season.
The strong demand for steel scrap in China’s domestic market has resulted in reduced export volumes to 0.29 MnT in Oct’17. In line with SteelMint’s forecast, ferrous scrap exports from China have tumbled down by 42% M-o-M in Oct’17 against 0.51 MnT in Sept’17.
Japan remained the largest supplier of ferrous scrap to China –
Japan continued to supply highest occupying almost 88% share of total ferrous scrap imports in China in Oct’17. Japan exported 0.15 MnT ferrous scrap in Oct’17 to China which increased 25% M-o-M against 0.12 MnT volumes exported in Sept’17. South Korea exported 0.01 MnT ferrous scrap to China in Oct’17.
Ferrous scrap exports during Jan-Oct’17 period from Japan summed up to 1.46 MnT comprising 76% share of total ferrous scrap imports in China during Jan-Oct’17.
United States witnessed rise of 22 times in scrap exports to China with 0.22 MnT ferrous scrap exports during Jan-Oct’17 which was less than 0.01 MnT exports in Jan-Oct’16.
Country-wise China ferrous scrap imports –
| Country | Oct’17 | Sept’17 | M-o-M % Change | Oct’16 | Y-o-Y % Change | Jan-Oct’17 | Jan-Oct’16 | % Change |
| Japan | 0.15 | 0.12 | +25.00% | 0.14 | +7.14% | 1.46 | 1.49 | -2.01% |
| United States | 0 | 0 | _ | 0 | _ | 0.22 | 0.01 | +2100.00% |
| South Korea | 0.01 | 0.01 | 0.00% | 0.01 | 0.00% | 0.06 | 0.07 | -14.29% |
| Australia | 0 | 0 | _ | 0 | _ | 0.04 | 0 | _ |
| Others | 0.01 | 0.02 | -50.00% | 0.01 | 0.00% | 0.13 | 0.1 | +30.00% |
| Total | 0.17 | 0.15 | +13.33% | 0.16 | +6.25% | 1.91 | 1.67 | +14.37% |
Quantity In MnT,
Source: SteelMint Stats
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