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Metal Recycling News November 14, 2017 03:30:10 PM

Ferrous Scrap Exports by the US to the end of September Surged 22%

Paul Ploumis
ScrapMonster Author
The leading destination of US ferrous scrap exports was Turkey. The country imported 2.567 million tonnes of scrap from the US in the first nine months of the year.
Ferrous Scrap Exports by the US to the end of September Surged 22%

SEATTLE (Scrap Monster): The most recent statistics released by the US Census Bureau and International Trade Commission indicates considerable surge in ferrous scrap exports by the country during the first three quarters of 2017. The US exports during the initial nine-month period of the year totaled 9.733 million tonnes. The exports have gained by 21.7% when compared with the previous year. The US ferrous scrap exports had totaled nearly 8 million tonnes during Jan-Sep ’16.

The leading destination of US ferrous scrap exports was Turkey. The country imported 2.567 million tonnes of scrap from the US in the first nine months of the year. Turkey imported nearly 13% more scrap from the US when matched with the corresponding nine-month period in 2016. The exports to Turkey had totaled only 2.273 million tonnes during Jan-Sep ’16. The country’s import volumes were more than double the volume of ferrous scrap imported by Mexico-the second leading importer of ferrous scrap from the US.

Mexico imported 1.271 million tonnes of ferrous scrap from the US. The imports by the country surged higher by nearly one-fifth over the previous year. Taiwan imported 999,619 tonnes of scrap from the US. The imports by the country grew by 9% year-on-year.

China recorded the biggest jump in import volumes. The country’s scrap imports from the US surged higher significantly by 164% to total 531,557 tonnes. The scrap purchases by Bangladesh too witnessed sharp year-on-year rise of 124.4% to 508,183 tonnes during the opening three quarters of 2017. The other country to witness rise in imports was Pakistan. The US shipments to Pakistan were up by nearly 79% to total 468,665 tonnes.

Among other significant buyers of ferrous scrap from the US, India and South Korea reported year-on-year decline in import volumes from the US. The scrap purchases by India dropped by 26.2% to 507,498 tonnes. The imports by South Korea declined even sharply by nearly 60%. The Korean imports totaled 269,166 tonnes in Jan-Sep ’17 as compared with the imports of 664,607 tonnes during similar nine-month period last year.

The US shipped 1.175 million tonnes of ferrous scrap during the month of September alone, marginally lower when compared with the exports during the prior month. The country’s exports had totaled 1.32 million tonnes in August 2017.

As per data, the US exports of nickel scrap too dropped by nearly 8% in September 2017. The exports fell from 2,984 tons in August to 2,758 tons in September. However, the average export prices surged higher by nearly 15% to $4,355.54 per ton. Among major export destinations, the UK alone reported year-on-year growth in imports. The other major importers including Canada, Finland and Pakistan reported decline in nickel scrap import volumes during the month.

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