United States: Ferrous Scrap Exports Hit 15 Months High in Nov'17
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USA - world's second largest exporter of ferrous scrap after EU-28 (Europe) has witnessed increase in its export volumes in Nov'17. Monthly scrap export volumes in Nov'17 have hit 15 months high. Earlier to this, ferrous scrap exports had registered highest in Aug'16 with 1.69 MnT.
As per recently released customs data, United States exported 1.59 MnT ferrous scrap in Nov'17, up significantly 47% Y-o-Y as against 1.08 MnT exports in Nov'16. Similarly, if the monthly comparison is made ferrous scrap exports registered a rise of 8% M-o-M in Nov'17 as USA ferrous scrap exports were 1.47 MnT in Oct'17.
During Jan-Nov'17, United States exported 13.36 MnT ferrous scrap with the hike of 17% against 11.40 MnT exports during the same period of last year.
Rise in ferrous scrap exports could be attributed to strong scrap demand and sharply increased restocking activities before winter season from major scrap importers.
Top loading ports in US for scrap shipping activities were Los Angeles, New York City, San Francisco, Philadelphia, and Boston.
Turkey remained top importer of USA ferrous scrap -
USA continued to supply the highest share of ferrous scrap exports to Turkey (0.40 MnT, +33% M-o-M) followed by Mexico (0.12 MnT) and Taiwan (0.11 MnT, +73% M-o-M) in Nov'17. South Korea imported 0.09 MnT while Pakistan imported 0.08 MnT (+100% M-o-M) and stood as fourth and fifth largest scrap importers from United States in Nov'17.
Other major importers from United States were China (0.07 MnT), Bangladesh (0.07 MnT), Canada (0.06 MnT), Vietnam (0.06 MnT), Thailand (0.06 MnT) and India (0.05 MnT) respectively in Nov'17.
During Jan-Nov'17, United States exported highest 3.26 MnT ferrous scrap to Turkey occupying 24% share of total ferrous scrap exports. Mexico remained second largest importer with 1.58 MnT ferrous scrap imports followed by Taiwan (1.20 MnT), China (0.88 MnT), Canada (0.73 MnT) and Vietnam (0.57 MnT).
India, Bangladesh and Pakistan continued scrap imports from USA - During first eleven months of CY17, India imported 0.63 MnT ferrous scrap from USA while Pakistan and Bangladesh imported 0.59 MnT and 0.58 MnT ferrous scrap respectively.
Country-wise USA ferrous scrap exports -
| Country | Nov'17 | Oct'17 | M-o-M % Change | Nov'16 | Y-o-Y % Change | Jan-Nov'17 | Jan-Nov'16 | % Change |
| Turkey | 0.40 | 0.30 | +33.33% | 0.29 | +37.93% | 3.26 | 2.87 | +13.59% |
| Mexico | 0.12 | 0.12 | 0.00% | 0.09 | +33.33% | 1.58 | 1.92 | -17.71% |
| Taiwan | 0.12 | 0.07 | +71.43% | 0.10 | +20.00% | 1.20 | 1.12 | +7.14% |
| China | 0.07 | 0.08 | -12.50% | 0.07 | 0.00% | 0.88 | 0.62 | +41.94% |
| Canada | 0.06 | 0.06 | 0.00% | 0.04 | +50.00% | 0.73 | 0.49 | +48.98% |
| Others | 0.82 | 0.84 | -2.38% | 0.49 | +67.35% | 5.71 | 3.88 | +47.16% |
| Total | 1.59 | 1.47 | +8.16% | 1.08 | +47.22% | 13.36 | 11.40 | +17.19% |
Quantity in MnT
Source: SteelMint Stats
