USA: Ferrous scrap export fall in H1 CY '20

Ferrous scrap exports from the US fell by 3% y-o-y in H1 CY '20. The country exported 8.23 mn t during Jan-Jun '20 in comparison with 8.51 mn t during Jan-Jun '19 as per customs data maintained with SteelMint.

Exports moved down on lowered scrap collection rates due to COVID-19 and tight scrap availability due to pandemic shutdown. US scrap exporters were initially affected in February-April by a global shortage of containers caused by lockdown measures in China, followed by disruption to scrap collection and processing as the virus spread across the US during the spring.

On a monthly basis, scrap exports remain majorly stable at 1.38 mn t in Jun '20.

Scrap exports to Turkey up 34% m-o-m in Jun '20- On a monthly basis, US scrap exports to Turkey increased by 34% m-o-m to 0.39 mn in Jun '20. Ferrous scrap demand has recovered in the Turkey market and raw material inventories that were depleted had to be restored as the markets have been opening up after the lockdowns. Slight upswing in finished steel export post lockdown and recovery in automotive sector led to increase in scrap bookings.

Turkey imported 1.95 mn t in H1 CY '20, up by 12% as against 1.75 mn t in H1 CY '19.

Quantity in t
Source: SteelMint stats & customs data