USA: Ferrous Scrap Exports down by 9% M-o-M in Feb'20

The United States, one of the major steel producers in the world, witnessed a decrease in its ferrous scrap exports in Feb'20. Scrap export volume decreased by 9% M-o-M to 1.39 MnT in Feb'20 from 1.52 MnT a month back in Jan'20, according to data maintained with SteelMint. On a yearly basis, exports have increased by 18% from 1.18 MnT during the same month last year.

Turkey remains the largest importer of ferrous scrap with 16% of share in the total scrap exported by the USA in Feb'20. The country's scrap imports decreased by 34% to 0.22 MnT in Feb'20 as against 0.34 MnT of scrap imported in Jan'20.

Followed by other major importers such as Mexico & Malaysia which imported 0.19 MnT (up by 46%) and 0.15 MnT (down by 59%) respectively.

The country's other steel products like coal, iron ore and finish flat exports were decreased in Feb'20, while exports of finish long steel have increased, as per recent data released by the customs department.

Iron Ore: United States iron ore exports for the second month of the CY'20 witnessed at 0.17 MnT for Feb'20. The exports depicted a drop of 65% on a monthly basis as against 0.49 MnT a month ago in Jan'20. US exports have dropped amid the hindrances caused due to COVID 19 leading to falling imports by major countries.

Canada stood the major importer accounting for 71% of total imports for the month at 0.12 MnT, down 76% as against 0.49 MnT in Jan'20. UK imported the remaining 29% at 0.05 MnT.

Coal: U.S. coal exports have decreased by 2.57% on a month-on-month basis to 9.60 million metric tons (MnT) in February 2020, as compared to 9.85 MnT in January. On a year-on-year basis, the country's coal exports fell by 1.66% than the shipment volume of 9.76 MnT in Feb'19.

Indian coal imports from the US attained a 6-months high total of 2.57 MnT during Feb'20, as it increased by 45% M-o-M from 1.77 MnT in Jan'20. US coal intake by South Korea dropped by 19.2% M-o-M to 0.84 MnT in Feb'20, as compared to 1.04 MnT in the month ago.

Finish long: Finish long export from the USA witnessed an increase by 13% M-o-M in Feb'20, exporting 0.09 MnT as compared to 0.08 MnT exported in Jan'20. On a yearly basis too, finish long exports increased by 29% from 0.07 MnT exported a year ago in Feb'19.
Canada remained the largest importer with 67% share in total finish long steel exported by the USA, as it imported 0.06 MnT in Feb'20, up by 20% M-o-M from 0.05 MnT imported in Oct'19.

Finish Flat: USA flat steel export stood at 0.44 MnT in Feb'20, slightly down by 2% as against 0.45 MnT in the preceding month. However, the same increased by 5% in Feb'20 as compared with 0.42 MnT in Feb'19.

On a country-wise basis, the nation's exports to Mexico on a monthly basis remained consistent at 0.21 MnT in Feb'20. While it declined by 5% for Canada and stood at 0.19 MnT in Feb'20 over 0.2 MnT a month ago.

Quantity in MT
Source: SteelMint Stats & Customs Data