US have exported over 2.08
million MT of ferrous scrap in August. This is just the 2nd largest
exports from US this year after the topmost exports of nearly 2.15 million MT in
March 2012. The total export in August is up by 7.2 percent M-o-M, but down by 25.1%
from nearly 2.78 million MT in August 2011.
India's share of the
total US exports is 8.65% with 183,589 MT intake in August 2012, up by 72.4%
from 106,501 MT in July 2012, but down by 3.8% from August 2011.
Turkey continues to remain
the top importer of US scrap but intake fell sharply to 507,797 MT, down 16.7%
from 609,343 MT M-o-M, also down by 36.5% than 799,897 MT in August 2011
China's intake was 96,596
MT of US ferrous scrap in August, down by 56.6% from 222,559 MT M-o-M and lower
by 79.6% than 472,359 MT in August 2011. Japan also registered a decline to
3,142 MT in August, down by 25.5% from July and 59.6% lower than August 2011.
Other Asian buyers
were more interested in US scrap than China & Japan. South Korea's intake
totaled 256,102 MT in August, up sharply by 68% from 152,416 MT M-o-M, down by 24.2%
from 338,018 MT Y-o-Y. Taiwan imported totaled 396,484 MT of US ferrous scrap,
up by almost 12% from 354,349 MT in July 2012, also up by 0.6% Y-o-Y.
Meanwhile, Malaysia
have doubled its scrap imports from earlier month with total intake of 143,433 MT,
59,452 MT was imported in July. The total import is also the triple from a year
ago when Malaysian buyers have imported 45,399 MT of ferrous scrap from US.
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