US Scrap Exports Up 22% in Oct'18 On Increased Buying from Asian Markets
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United States - world's second largest exporter of ferrous scrap after EU-28 has witnessed a considerable rise in scrap exports in Oct'18. As per recent customs data, United States exported 1,536,343 MT ferrous scrap in Oct'18, up 22% M-o-M as against 1,258,913 MT exports recorded in Sept'18. Increased purchases from Mexico and Asian countries could have resulted in high US export volumes despite significantly fallen Turkish imports in October.
On yearly premises, exports increased by 5% Y-o-Y in Oct'18 as against 1,466,181 MT exports recorded in Oct'17.
Portwise - Top loading ports in US for scrap shipping activities in Oct'18 were Los Angeles (0.29 MnT), San Francisco (0.22 MnT), New York City (0.19 MnT), Philadelphia (0.12 MnT), Seattle (0.11 MnT), Columbia-snake (0.09 MnT) and Boston (0.06 MnT).
According to reports, total exports of Shredded rose 62% M-o-M to 609,545 MT while HMS 1 exports recorded at 437,929 MT, up 7% M-o-M in Oct'18.
Turkey remained the largest importer in Oct'18 - Despite the correction in global scrap prices during Aug-Sept'18, US shipment to Turkey remained low in Oct'18. Turkey imported 230,484 MT ferrous scrap, down 34% M-o-M as against 351,806 MT in Sept'18. Canada imported 163,590 MT ferrous scrap, multiplied almost double as against 75,765 MT in Sept'18.
Mexico observed a sharp rise in Shredded scrap buying resulting in overall imports to ascent by 33% M-o-M in Oct'18. Mexico imported 116,967 MT in Oct'18 as against 86,583 MT ferrous scrap in Sept'18.
Imports from Asian countries increased in Oct'18 - The second largest importer of US scrap was Taiwan (183,928 MT, +48% M-o-M) in Oct'18 followed by other major Asian importers like South Korea (144,269 MT, +15% M-o-M), Bangladesh (100,565 MT, +47% M-o-M), India (56,678 MT, +5% M-o-M) and Pakistan (34,065 MT, +22% M-o-M). Thailand imported 122,485 MT ferrous scrap in Oct'18, significantly up against just 5,845 MT in Sept'18.
China's dull appetite for the US scrap continued amid stricter trade and inspection regulations in the country, importing just 8,821 MT in Oct'18.
US scrap exports up 18% during Jan-Oct'18 - United States exported 13.93 MnT ferrous scrap during Jan-Oct'18, up 18% Y-o-Y as against 11.78 MnT during the same period last year. Almost all major importers except China observed a considerable rise in scrap imports from US on rising purchases of high-quality scrap for premium quality steel manufacturing.
Country-wise United States ferrous scrap exports -
| Country | Oct'18 | Sept'18 | % Change M-o-M | Oct'17 | % Change Y-o-Y | Jan-Oct'18 | Jan-Oct'17 | % Y-o-Y Change |
| Turkey | 0.23 | 0.35 | -34.29% | 0.30 | -23.33% | 2.92 | 2.87 | 1.74% |
| Mexico | 0.12 | 0.09 | 33.33% | 0.12 | 0.00% | 1.59 | 1.46 | 8.90% |
| Taiwan | 0.18 | 0.12 | 50.00% | 0.07 | 157.14% | 1.54 | 1.07 | 43.93% |
| Vietnam | 0.16 | 0.17 | -5.88% | 0.06 | 166.67% | 0.90 | 0.51 | 76.47% |
| Canada | 0.16 | 0.08 | 100.00% | 0.06 | 166.67% | 0.78 | 0.67 | 16.42% |
| India | 0.06 | 0.05 | 20.00% | 0.05 | 20.00% | 0.77 | 0.58 | 32.76% |
| Others | 0.63 | 0.40 | 57.50% | 0.87 | -27.59% | 5.43 | 4.62 | 17.53% |
| Total | 1.54 | 1.26 | 22.22% | 1.47 | 4.76% | 13.93 | 11.78 | 18.25% |
Quantity in MnT,
Source: SteelMint Stats
