The US, the largest ferrous scrap exporter globally, has witnessed a slight increase in exports by 4% m-o-m in September 2022. The country exported a total of 1.42 million tonnes (mnt) of scrap in September as against 1.37 mnt in August.
A total of 12.74 mnt has been exported by the country in the January-September period of 2022, a decrease of 7% compared to the corresponding period last year, as per customs data.
Country-wise shipments
- Exports to Turkiye fall m-o-m: Turkiye imported 215,039 t in September as against 339,300 t in August, a drop of 37% m-o-m. As the finished steel demand in the domestic market of Turkiye was weak for which the buyers were not actively procuring imported material.
- Exports to Mexico and Peru surge: Mexico, a major buyer of US ferrous scrap, imported 297,460 t in September as against 151,009 t last month, a significant rise of 97% m-o-m. Similarly, Peru received 103,526 t in September month a rise in the volume with 426% as compared to 19,691 t in the previous month.
- Imports by India down : Indian imports from the US after an unbelievable growth in the previous month, down by 15% with 216,853 as compared to 255,857 t in August.
Outlook
Active procurement might be witnessed from major buyers for winter restocking, which should keep export volumes higher in the near term.
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