Ferrous Scrap Trade by Major Asian Countries Followed Mixed Trend

SEATTLE (Scrap Monster): The most recent scrap trade statistics published by various Asian countries indicate mixed trend in ferrous scrap imports and exports.

The Chinese Customs data shows that country imported 148,000 tons of scrap during the month of September this year. The imports dropped by over 15% when compared with the previous year. The combined imports during the first three quarters of the year totaled 1.743 million tons. The cumulative imports were up by nearly 14% over the previous year. The Chinese scrap imports had totaled 1.53 million tons during Jan-Sep ’16.

The country has reported significant surge in consumption of domestic scrap, especially during the second half of the year. The increased availability of domestic scrap sources is likely to reduce the country’s overdependence on imported scrap. Consequently, the annual scrap imports in 2017 are likely to remain flat when compared with the previous year. China had imported around 2.2 million tons of scrap during the entire year 2016.

The trade statistics released by Indonesian authorities suggests significant jump in scrap imports in July this year. The imports surged higher by nearly 135% to total 95,000 tons during the month. The cumulative imports during Jan-July ’17 totaled 818,000 tons, up by nearly 59% over the previous year. The monthly scrap import volume averaged at 117,000 tons. The key exporter of scrap to Indonesia during the initial seven-month period of the year was Australia. The country supplied nearly 19% of all scrap imported by Indonesia during the initial three quarters. The imports from Australia skyrocketed by 114% when compared with the corresponding nine-month period last year.

According to Taiwan Customs statistics, the country’s scrap imports dropped nearly 28% over the previous month to total 147,000 in October this year. The primary source of scrap import was the US. The imports from the US totaled 68,000 tons, followed by China (19,186 tons), Australia (7,929 tons), Japan (7,248 tons) and Canada (7,188 tons). Meantime, the country’s steel scrap exports surged higher by 175% month-on-month to 11,244 tons.

The data published by the Japanese Ministry of Finance (MoF) indicates modest 12% jump in steel scrap exports by the country in September. The shipments to South Korea recorded sharp increase, whereas those to China, Taiwan and Vietnam dropped further. The scrap imports by the country witnessed marginal rise by 4.4% to total nearly 11,000 tons. The cumulative imports during the first nine months totaled 128,000 tons, MoF data said.