United States: Ferrous Scrap Exports Rise 18% in July

Turkey and Egypt witnessed significant rise in scrap imports from US on monthly basis in Jul'18.

United States - world's second largest exporter of ferrous scrap after EU-28 has witnessed rise in its scrap exports by 18% M-o-M in July as against exports recorded in Jun'18. As per recent customs data, United States exported 1,367,344 MT ferrous scrap in Jul'18 as against 1,163,542 MT exports recorded in Jun'18. On yearly premises, exports increased by 11% Y-o-Y as against 1,235,842 MT exports recorded in Jul'17.

Portwise - Top loading ports in US for scrap shipping activities in Jul'18 were New York City (0.22 MnT), Los Angeles (0.21 MnT), Columbia snake (0.15 MnT), San Francisco (0.14 MnT), Boston (0.12 MnT), Providence (0.11 MnT) and Philadelphia (0.07 MnT).

Turkey scrap imports from US hit 7 month high in Jul'18 - USA ferrous scrap exports to Turkey recorded highest in July in CY18, totaling 367,478 MT, up 147% M-o-M. Earlier to this, Turkey imported highest at 368,795 MT in Dec'17. While China's dull appetite for US scrap continued amid stricter trade and inspection regulations in the country importing just 21,325 MT from US in Jul'18 after reaching lowest at 12,200 MT in Jun'18.

Mexico, second largest importer witnessed stable scrap imports from US at 151,948 MT in Jul'18. Followed by Taiwan (117,176 MT, -14% M-o-M), Bangladesh (109,307 MT, +63% M-o-M), Egypt (108,998 MT, 159% M-o-M), Vietnam (93,399 MT, 14% M-o-M) and South Korea (88,735 MT, -31% M-o-M). India imported 42,953 MT ferrous scrap from US in Jul'18 as against 46,305 MT in June.

Gradewise - Around 44% share of total scrap exported from the US in July was HMS 1&2, totaling 512,956 MT. Shredded scrap exports totaled at 469,389 MT, followed by 47,752 MT of P&S in July.

Rise in scrap exports in July could be attributed to pick up in demand in most of the importing countries and lower global scrap prices.

During first seven months of CY18, United States exported 9.60 MnT ferrous scrap, up considerably 24% Y-o-Y as against 7.72 MnT ferrous scrap during Jan-Jul'17. It is expected that US exports may climb above 17 MnT in CY18 against significant increase from 15 MnT in CY17. Rising scrap based crude steel productions in major importuning countries has led to an increase in high quality scrap purchases from USA.

Country-wise United States ferrous scrap exports -

Quantity in MnT,
Source: Customs Data