China Steel Scrap Exports Rise 23% M-o-M in Sept'17

China - world's largest scrap producer and consumer has registered a growth of 23% M-o-M in its ferrous scrap exports in September'17. According to recently released customs data, the country exported 508,120 MT ferrous scrap in Sept'17 compared to 411,220 MT ferrous scrap in Aug'17.

Besides the strong growth in both its steel scrap usage and imports, there has also been an increase in its steel scrap exports - caused by the country's elimination of its induction furnaces.

On yearly premises, China has witnessed mammoth growth in its exports in Sep'17 as ferrous scrap exports were just 48 MT in Sep'16.

During the first nine months of CY17, China's ferrous scrap exports summed up to 1.38 million tonnes.

Indonesia remained the largest destination for Chinese ferrous scrap in September and imported 162,047 MT comprising 32% share in total Chinese ferrous scrap exports in Sep'17.

Followed by other South-East Asian countries like Thailand (125,958 MT), Vietnam (68,100 MT), Taiwan (38,734 MT) and India (27,818 MT) occupying shares of 25%, 13%, 8% and 5% of total ferrous scrap exports respectively.

Majority of the scrap exports from China were mainly concentrated in southern China namely Guandong, Fujian provinces. Other major provinces for scrap generation were - Tianjin and Nanjing.