USA: Ferrous scrap exports down 13% m-o-m in September

In September 2023, the United States, the global leader in ferrous scrap exports, experienced a 13% decrease in scrap exports. The total volume of scrap exports for the month amounted to 1.22 million tonnes (mnt), down from 1.41 mnt in the previous month. Additionally, when compared to September 2022, there was a 14% decline in exports, contrasting with the 1.42 mnt recorded during the same period last year.

The nation's crude steel production experienced a modest decrease in September, standing at 6.7 mnt, compared to the 7 mnt reported in August.

Other metallics update

• Steel billet imports by the US increased significantly by 87% m-o-m to 416,343 t in September from 222,267 t in August. The major chunk of imports were from Brazil at 299,034 t followed by Mexico and Canada at 81,150 t and 34,384 t, respectively. In 9MCY23 (Jan-Sep), billet imports totaled 2.93 mnt versus 2.74 mnt in the same period of last year.
  
  
• Pig iron imports decreased by 40% to 251,290 t in September from 418,812 t in the preceding month. Brazil remained the largest exporter at 206,167 t, followed by Ukraine and South Africa at 30,432 t and 8,400 t, respectively. In 9MCY23 (Jan-Sep) imports fell by 10% to 3.22 mnt as against 3.56 mnt in the year-ago period.
  
  

Country-wise scrap exports

Exports to Mexico drop 16% m-o-m: Ferrous scrap exports to Mexico stood at 215,668 t in September, down by 16% as against 256,086 t a month ago. On an annualised basis too, exports witnessed a sharp 27% drop as against 297,460 t seen in September 2022.

Exports to Turkiye plummet 41% over the month: Ferrous scrap exports from the US to Turkiye plummeted 41% to 240,265 t in September from 406,958 t in the previous month. However, on a y-o-y basis, exports jumped 12% as against 215,039 t seen in September 2022.

Exports to India dip 1% m-o-m: The US exported about 131,585 t of scrap to India in September, a marginal decline as against 132,867 t a month ago. However, when compared to last year exports plunged 39% compared to 216,853 t reported in September 2022.

Exports to Taiwan edge down 1%: Scrap exports to Taiwan stood at 107,982 t, down by a mere 1% as against 108,528 t a month ago. Annually, exports witnessed an increase of 15% against 93,656 t in September 2022.

Outlook

Exports from the US are likely to see a nominal change in volume as active buying from Turkiye and India is happening primarily from Europe and the US.