United States: Ferrous Scrap Imports Fall 12% in February

USA - world's fourth-largest importer of ferrous scrap after Turkey, South Korea and India has witnessed fall in its scrap imports by 12% M-o-M in Feb'18 as against imports in Jan'18.

As per recently released customs data, United States imported 0.29 MnT ferrous scrap in Feb'18 against 0.33 MnT ferrous scrap imports in Jan'18. On yearly premises, scrap imports in Feb'18 plunged by 19% Y-o-Y against 0.36 MnT ferrous scrap imports recorded in Feb'17.

In first two months period, United States imported 0.62 MnT ferrous scrap witnessing marginal fall of 9% Y-o-Y as against 0.68 MnT scrap exports recorded during the same period of last year (Jan-Feb'17).

In 2017, United States ferrous scrap imports recorded highest since 2006. United States imported 4.36 MnT ferrous scrap in CY17 registering growth of 21% Y-o-Y. Increasing crude steel output through EAF has resulted in increased high-grade scrap imports and also increased domestic consumption of scrap in steelmaking in USA.

So far in CY18, Top unloading ports in United States for scrap import activities were Detroit (35%), Seattle (21%), New Orleans (11%), Buffalo (10%) and Laredo (6%).

United States witnessed stable EAF crude steel output in Jan-Feb'18 - According to the data released by World Steel Association, crude steel production in United States stood almost stable during Jan-Feb'18 at 13.34 MnT as compared to 13.40 MnT recorded during the first two months of CY17.

Canada remained largest supplier of ferrous scrap to United States -

Canada supplied highest 0.23 MnT ferrous scrap to United States occupying almost 79% share in USA ferrous scrap imports in Feb'18. Followed by Mexico and Netherland both supplied 0.03 MnT each ferrous scrap to USA respectively. United Kingdom witnessed nil scrap exports with 100% M-o-M fall while Canada and Mexico witnessed stable scrap imports M-o-M in Feb'18 as against imports in Jan'18.

Owing to the slowdown in import activities amid less clarity on import tariffs of USA section 232, UK and Sweden witnessed nil scrap exports in Feb'18 while major suppliers like Canada and Mexico which are already exempted from USA import tariffs have observed stable scrap exports to USA in Feb'18.

During Jan-Feb'18, Canada supplied highest volumes of scrap to USA followed by Mexico (+100% Y-o-Y), UK (-67% Y-o-Y), Sweden and Netherland (stable Y-o-Y) respectively.

Country-wise United States ferrous scrap imports -

Quantity in MnT
Source: SteelMint Stats