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Metal Recycling News April 04, 2017 11:30:46 AM

China's ferrous scrap imports hit 22-month peak in February

Anil Mathews
ScrapMonster Author
The country’s steel scrap imports totaled 270,887 tons during the month of February this year.

China's ferrous scrap imports hit 22-month peak in February

BEIJING (Scrap Monster): The latest trade statistics published by the Chinese Customs authorities indicate that the country’s ferrous scrap imports peaked during the month of February this year. The imports during the month touched the highest level since April 2015, recording month-over-month and year-over-year increase.

The country’s steel scrap imports totaled 270,887 tons during the month of February this year. The imports were up significantly by 121.6% over the previous year. The country had imported only 122,500 tons of scrap steel during February last year. Over the prior month, the imports registered a jump of nearly 30%. The country’s imports had totaled 209,246 tons during the first month of the current year. According to trade statistics, monthly import by the country has recorded year-on-year increase for the first time in four months. Also, the Feb ’17 imports were the highest in past 22 months.

The largest exporter of ferrous scrap to China during February this year was Japan. The imports from Japan totaled 153,225 tons, accounting for nearly 73% of total scrap imports by China during the month. The imports were up marginally by 3.6% over the previous month. The second largest supplier was the USA. The imports from the US totaled 94,490 during the month. South Korea exported 7,556 tons of ferrous scrap to China. The other key suppliers were Hong Kong (2,736 tons), Australia (1,401 tons), Belgium (1,186 tons), Germany (432 tons), Taiwan (380 tons), France (189 tons), Canada (26 tons) and the Netherlands (19 tons).

The cumulative ferrous scrap imports by China during the initial two months of the year totaled 480,133 tons, surging higher by nearly 90% over the corresponding two-month period in 2016. The country’s ferrous scrap imports had totaled 253,143 tons during the first two months of 2016. The monthly imports averaged at approximately 240,000 during 2017. Going by the current rate, the total yearly imports by China during the current year are expected to exceed 2.88 million tons in 2017.

The highest volume of imports during Jan-Feb ’17 was from Japan. The imports from Japan totaled 311,951 tons, accounting for 65.0% of total imports. The imports registered 42.3% jump over the previous year. The Chinese imports of Japanese ferrous scrap had totaled 219,166 tons in Jan-Feb ’16. The USA with 94,868 tons stood second with nearly 20% share of total imports. The imports from the US multiplied several folds as compared with 2,521 tons during the same two months in 2016. The third largest exporter was Australia with 33,088 tons. The imports from Australia constituted nearly 7% of total imports. The other ferrous scrap suppliers to China during Jan-Feb ’17 were South Korea (15,059 tons), Hong Kong (5,051 tons), Belgium (2,239 tons), Taiwan (1,191 tons), Germany (748 tons), Netherlands (449 tons), France (282 tons), Canada (201 tons) and Russia (22 tons).

 

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