As per the customs data, Turkey, South Korea, Taiwan, Vietnam, USA, Bangladesh and India were the major importers of ferrous scrap with the collective import of approx. 17.11 MnT during Jan-May’16.
With the recent release of trade data by all of the major ferrous scrap importing countries, the world trade flow became legible for the month of May’16.
As per the custom data, Turkey, South Korea, Taiwan, Vietnam, USA, Bangladesh and India are the major importers of ferrous scrap, which dominate the import market by approx 80% of total share.
Turkey – The largest importer
Turkey was the largest importer of ferrous scrap during the period of Jan-May’16. The nation imported 7.21 MnT of ferrous scrap, registered an increase of 3% Y-o-Y and 25% M-o-M.
Major exporters to Turkey were USA, Russia, United Kingdom, Netherlands, Belgium and France, which collectively exported about 5.61 MnT in the duration.
India’s import moves up by 25.21%
India imported 2.88 MnT during the period of Jan-May’16, out of which, 1.79 MnT was imported from United States (0.58 MnT), United Kingdom (0.49 MnT), UAE (0.38 MnT), Singapore (0.16 MnT) and Australia (0.16 MnT).
The country reported a rise of 25.21% Y-o-Y and imported 0.54 MnT in May’16 i.e rise of 14.28% M-o-M.
South Korea – The 3rd largest importer
South Korea imported 2.81 MnT during Jan-May’16; registered an increase of 1.44% against the same period of last year. The nation imported 0.57 MnT in May’16, which was 18.75% more than the quantity imported in Apr’16.
Japan, Russia, United States, Puerto Rico and Slovenia were the major exporting countries to South Korea, which together exported 2.66 MnT.
US imports remain stable
The United States, one of the largest exporters as well as importers of ferrous scrap, imported 1.15 MnT scrap during Jan-May’16; remained stable against last year. In May’16, nation’s import reached at 0.45 MnT; moved up by 36.37% against May’15.
Major exporters were Canada, UK, Sweden and Netherlands. Standalone Canada exported 1.15 MnT of ferrous scrap to USA during the duration.
Taiwan imports fell by 36.7% during Jan-May’16
Unlike others, Taiwan reported a downfall of 36.70% Y-o-Y and imported 1.19 MnT of scrap.
Major exporters to Taiwan were Japan, United States of America, Hong Kong, Australia and Philippines; exported total of 1.05 MnT.
Other nations’ import
Other major importers were Vietnam and Bangladesh; imported 1.19 MnT* and 0.69 MnT* respectively during Jan-May’16.
Bangladesh reported an increase of 64.28% Y-o-Y and Vietnam registered a rise of 29.34% Y-o-Y.
Bangladesh imported 0.43 MnT from Japan, Brazil, USA, Netherlands and UK during Jan-May’16 and Vietnam imported from Japan, Australia, USA and Chile. Japan standalone exported 1 MnT* of ferrous scrap to Vietnam.
*These data are provisional.
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