United States: Ferrous Scrap Exports Rise 31% Y-o-Y in April
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United States - world's second largest exporter of ferrous scrap after EU-28 has witnessed a rise in its scrap exports by 31% Y-o-Y in Apr'18 as against exports recorded in Apr'17. As per recent customs data, United States exported 1,503,644 MT ferrous scrap in Apr'18 as against 1,145,804 MT ferrous scrap exports recorded in Apr'17.
On monthly premises, exports increased marginally by 3% M-o-M as against 1,458,314 MT exports recorded in Mar17. Notably, scrap exports in Apr'18 recorded highest during the first four months of 2018.
Top loading ports in US for scrap shipping activities in April were Los Angeles (0.31 MnT), New York City (0.18 MnT), San Francisco (0.17 MnT), Providence (0.15 MnT), Philadelphia (0.13 MnT), Laredo (0.11 MnT), and Seattle (0.11 MnT).
Turkey remained largest importer in Apr'18 - Turkey remained largest importer occupying 22% (0.33 MnT, +6% Y-o-Y) share in total scrap exports in Apr'18. Followed by other major importers like Mexico (0.23 MnT, +92% Y-o-Y), Taiwan (0.19 MnT, +58% Y-o-Y), China (0.12 MnT, +33% Y-o-Y), India (0.11 MnT, +83% Y-o-Y), Vietnam (0.03 MnT, -73% Y-o-Y) and Canada (0.08 MnT, +14% Y-o-Y).
In Apr'18, Bangladesh witnessed a sharp surge in ferrous scrap imports on both M-o-M and Y-o-Y as against nil imports in Mar'18 and Apr'17. Bangladesh imported 0.19 MnT occupying 13% share of total scrap exports from USA in Apr'18.
Average scrap export prices from USA moved down by USD 10-15/MT in Apr'18 as compared to last month's prices this could be attributed to rise in demand from major importers however, exports moved marginally up on monthly premises amid the slowdown in activities on an influence of USA tariffs in Apr'18.
An announcement of import tariffs on steel imports under section 232 has not significantly affected the scrap exports from USA instead scrap imports increased marginally M-o-M in Apr'18 owing to firm demand from major importers like Mexico (+77% M-o-M), Taiwan (+27% M-o-M), China (+200% M-o-M) and Bangladesh. Also, domestic scrap consumption increased significantly in USA since last few months.
Scrap exports increased 33% Y-o-Y during Jan-Apr'18 - United States exported 5.53 MnT ferrous scrap in during Jan-Apr'18 as against 4.17 MnT during Jan-Apr'17. The increase in ferrous scrap exports from US could be attributed to an increase in scrap purchase activities amid strong demand from major importers.
Indian scrap imports from US multiplied nearly three folds on Y-o-Y basis during Jan-Apr'18. India imported 0.35 MnT ferrous scrap in Jan-Apr'18 as against 0.13 MnT recorded in same period last year.
During Jan-Apr'18, Turkey imported 1.31 MnT ferrous scrap occupying 24% share of total scrap exports from USA. Turkey remained largest scrap importer with a significant increase of 52% Y-o-Y as against 0.86 MnT during Jan-Apr'17.
Mexico stood as the second largest buyer and imported 0.70 MnT with increase of 25% Y-o-Y. Followed by other prominent importers as Taiwan (0.61 MnT, +27% Y-o-Y), China (0.38 MnT, +3% Y-o-Y) Vietnam (0.27 MnT, -4% Y-o-Y), Canada (0.27 MnT, +4% Y-o-Y) and Bangladesh (0.27 MnT, 125% Y-o-Y) respectively.
Country-wise United States ferrous scrap exports -
| Country | Jan-Apr'18 | Jan-Apr'17 | % Y-o-Y Change | Apr'18 | Mar'18 | % M-o-M Change | Apr'17 | % Y-o-Y Change |
| Turkey | 1.31 | 0.86 | 52.33% | 0.33 | 0.35 | -5.71% | 0.31 | 6.45% |
| Mexico | 0.70 | 0.56 | 25.00% | 0.23 | 0.13 | 76.92% | 0.12 | 91.67% |
| Taiwan | 0.61 | 0.48 | 27.08% | 0.19 | 0.15 | 26.67% | 0.12 | 58.33% |
| China | 0.38 | 0.37 | 2.70% | 0.12 | 0.04 | 200.00% | 0.09 | 33.33% |
| India | 0.35 | 0.13 | 169.23% | 0.11 | 0.13 | -15.38% | 0.06 | 83.33% |
| Others | 2.18 | 1.77 | 23.16% | 0.52 | 0.66 | -21.21% | 0.45 | 15.56% |
| Total | 5.53 | 4.17 | 32.61% | 1.50 | 1.46 | 2.74% | 1.15 | 30.43% |
Quantity in MnT
Source: SteelMint Stats
