China has witnessed significant increase in scrap imports in Feb’18 amid fall in global scrap prices during mid of January month. United States scrap exports to China sky rocketed in Feb’18.
China – world’s largest steel producer has witnessed significant increase in its ferrous scrap imports in Feb’18. China’s scrap imports surged by 88% M-o-M in Feb’18. According to recently released customs data, the country imported 187,671 MT ferrous scrap in Feb’18 compared to 99,632 MT ferrous scrap imports in Jan’17.
On yearly premises, ferrous scrap imports witnessed fall of 30% Y-o-Y in Feb’18 as against 270,887 MT scrap imports in Feb’17.
On the other hand, global scrap prices started falling in mid of Jan’18 this could have resulted in increased scrap imports in Feb’18. During mid of Jan’18, global scrap prices observed decline which continued till mid of Feb’18.
Japan remained largest scrap supplier to China in Feb’18 –
Japan stood as the largest exporter of ferrous scrap to China in Feb’18. Japan exported 113,358 MT comprising 60% share in total Chinese ferrous scrap imports in Feb’18. Japan scrap exports witnessed 30% M-o-M increase in Feb’18 as against 87,090 MT ferrous scrap in Jan’18. While United States witnessed sharp increase in its scrap exports to China in Feb’18 which recorded at 65,622 MT as against just 1,025 MT exports in Jan’18. Followed by other exporting countries like North Korea ( 3,347 MT, +21% M-o-M) and China (1,200 MT, -73% M-o-M).
China’s ferrous scrap imports down 42% Y-o-Y during Jan-Feb’18-
During Jan-Feb’18, China’s ferrous scrap imports summed up at 0.28 MnT which have fallen by 42% Y-o-Y as against 0.48 MnT during the same period in the last year. Japan exported 0.20 MnT occupying highest 70% of total scrap imports in China, followed by United States (23%), North Korea (2%), and China (2%) respectively.
China’s EAF steel production is expected to rise at faster pace in CY18 which presently contributes around 6.5% of total crude steel production in China.
Country-wise China ferrous scrap imports –
|
Country |
Feb’18 | Jan’18 | M-o-M % Change | Feb’17 | Y-o-Y % Change | Jan-Feb’18 |
2017 |
| Japan | 113,358 | 87,090 | 30.16% | 158,725 | -28.58% | 200,448 | 1,828,860 |
| United States | 65,622 | 1,025 | 6304.19% | 94,490 | -30.55% | 66,646 | 222,853 |
| North Korea | 3,347 | 2,772 | 20.74% | – | – | 6,119 | – |
| China | 1,200 | 4,459 | -73.10% | – | – | 5,659 | 33,662 |
| Taiwan | 724 | 397 | 82.43% | 380 | 90.59% | 1,120 | 9,848 |
| Germany | 682 | 571 | 19.45% | 432 | 57.89% | 1,253 | 5,508 |
| Others | 2,739 | 3,318 | -17.45% | 16,860 | -83.76% | 6,057 | 223,604 |
| Total | 187,671 | 99,632 | 88.36% | 270,887 | -30.72% | 287,303 | 2,324,335 |
Quantity in MT,
Source: SteelMint Stats & Customs Data
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