Ferrous scrap continues to remain an important feed stock for steel making especially after rising coking coal prices. In this report we have tried to collate the top ten importers of ferrous scrap in first eight months of 2016 (Jan-Aug).
It was observed that seaborne scrap trade has picked up in Turkey, Vietnam, Bangladesh, and Indonesia. It is expected that scrap seaborne trade will remain strong owing to falling steel exports from China and rising cost of production by blast furnace manufacturers.
Turkey remained the largest importer followed by India, Taiwan, South Korea and US.
The scrap imports by Vietnam during the first eight months of the year totaled 2.50 million tons, rising significantly due to recent duty on Chinese billets. Vietnam had imported 3.18 million tons of scrap in 2015.
Bangladesh noticed a sharp increase in scrap imports due to rising steel making capacities and restrictive measures imposed by government on imported billet.
Ferrous Scrap Importers
| Country | 2014 | 2015 | Jan-Aug 2016 |
| Turkey | 19.07 | 16.25 | 11.50 |
| India | 5.70 | 6.71 | 4.00 |
| Taiwan | 4.27 | 3.37 | 3.95 |
| South Korea | 8.00 | 5.76 | 3.71 |
| USA | 4.22 | 3.51 | 2.62 |
| Vietnam | 3.37 | 3.18 | 2.50 |
| EU-28 | 3.14 | 2.83 | 1.83 |
| Bangladesh | 0.5 | 1.15 | 1.55 |
| Pakistan | 1.40 | 1.45 | 1.45 |
| China | 2.56 | 2.33 | 1.35 |
Source: SteelMint Events
Quantity in MnT
Source: SteelMint Events
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