USA – world’s second largest exporter of ferrous scrap after EU-28 (Europe) has witnessed marginal fall in its scrap exports by 8% M-o-M in January as against ferrous scrap exports in Dec’17.
As per recently released customs data, United States exported 1.10 MnT ferrous scrap in Jan’18 as against 1.19 MnT exports in Dec’17. On the other hand, if the yearly comparison is made ferrous scrap exports registered an increase of 17% Y-o-Y as against 0.94 MnT exports in Jan’17.
In CY17, United States witnessed 16% Y-o-Y growth in ferrous scrap exports. The country exported 14.55 MnT ferrous scrap in 2017 as against 12.58 MnT scrap exports recorded in 2016. While the same was at 12.25 MnT in 2015.
Notably, Ferrous scrap exports observed second consecutive fall in Jan’18 after hitting highest in CY17 at 1.59 MnT in Nov’17. Fall in ferrous scrap exports could be attributed to the slowdown in demand from major importers like Turkey (-16 % M-o-M), Taiwan (-8% M-o-M), Vietnam (-79% M-o-M), and Pakistan (-25% M-o-M) over high scrap prices compared to prices in December month.
Scrap exports from USA may fall further in the coming months after US govt’s announcement of 25% import tariffs on steel imports. As this will increase domestic consumption of scrap in EAF’s located in USA.
Top loading ports in US for scrap shipping activities were New York City, Los Angeles, Seattle, Philadelphia, Laredo, San Francisco and Boston.
Turkey scrap imports from United States fall 16% M-o-M in Jan’18 –
In Jan’18, United States exported highest 0.31 MnT ferrous scrap to Turkey occupying 28% share of total scrap exports. Turkey remained largest importer though its import volumes decreased by 16% M-o-M against 0.37 MnT in Dec’17. While Turkey imports increased by almost four folds Y-o-Y in Jan’18 against 0.08 MnT in Jan’17 from US.
Mexico and China imported 0.13 MnT ferrous scrap each in Jan’18 which have increased 117% M-o-M against 0.06 MnT in Dec’17. Followed by Taiwan (0.12 MnT, -8% M-o-M), South Korea (0.08 MnT, 33% M-o-M) and Vietnam (0.03 MnT, -79% M-o-M) respectively.
India scrap imports from USA increase 75% in Jan’18 –
India imported 0.07 MnT ferrous scrap from USA in Jan’18 which surged 75% as against 0.04 MnT in Dec’17. While Pakistan imported 0.03 MnT (-25% M-o-M) and Bangladesh imported 0.04 MnT (Stable M-o-M) ferrous scrap respectively. Over the sinking inventories, Indian scrap imports would have increased from US in Jan’18.
Country-wise United States ferrous scrap exports –
| Country | Jan’18 | Dec’17 | M-o-M % Change | Jan’17 | Y-o-Y % Change | 2017 | 2016 | % Change |
| Turkey | 0.31 | 0.37 | -16.22% | 0.08 | 287.50% | 3.63 | 3.17 | 14.51% |
| Mexico | 0.13 | 0.06 | 116.67% | 0.18 | -27.78% | 1.64 | 2.04 | -19.61% |
| Taiwan | 0.12 | 0.13 | -7.69% | 0.10 | 20.00% | 1.33 | 1.24 | 7.26% |
| China | 0.13 | 0.06 | 116.67% | 0.08 | 62.50% | 0.94 | 0.75 | 25.33% |
| Canada | 0.06 | 0.06 | 0.00% | 0.06 | 0.00% | 0.79 | 0.53 | 49.06% |
| Others | 0.35 | 0.51 | -31.37% | 0.44 | -20.45% | 6.22 | 4.85 | 28.25% |
| Total | 1.10 | 1.19 | -7.56% | 0.94 | 17.02% | 14.55 | 12.58 | 15.66% |
Quantity in MnT
Source: SteelMint Stats
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