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Metal Recycling News December 05, 2017 12:30:49 PM

Scrap Export Data by Asian Countries Painted Mixed Picture

Paul Ploumis
ScrapMonster Author
South Korea exported 16,461 tons of scrap during the month of October this year. The exports dropped sharply by nearly 27% when compared with the previous year.
Scrap Export Data by Asian Countries Painted Mixed Picture

SEATTLE (Scrap Monster): The recent scrap export trade statistics published by various Asian countries signal mixed trend in trade.

According to Hong Kong trade statistics, the country’s exports totaled 156,000 tons in September 2017. The monthly exports surged higher by more than 50% when compared with the same month a year before. The combined exports during the first three quarters of the year were up marginally by 4.7% to total around 1.02 million tons. The exports averaged at 114,000 tons per month. The statistics pointed at annualized exports of approximately 1.37 million tons in 2017.

South Korea exported 16,461 tons of scrap during the month of October this year. The exports dropped sharply by nearly 27% when compared with the previous year. Month-on-month, the shipments declined sharply by almost 57%. The cumulative exports totaled 341,124 tons during the first ten months of 2017. The exports were still higher by almost one-third when matched with those during the corresponding ten-month period in 2016. The primary export destination of scrap from South Korea was Vietnam. The country imported 122,207 tons of scrap from South Korea. The other key importers were China (98,853 tons) and Taiwan (44,313 tons).

Meantime, Singapore shipped nearly 19% fewer scrap during September this year. The country’s exports totaled around 61,900 tons. During the first three quarters of 2017, Singapore exported 602,430 tons of scrap, falling marginally by 1.6% over the previous year. The monthly exports averaged at 66,937 tons. Going by the current rate, Singapore’s yearly scrap exports are projected to total around 800,000 tons.

The main destination of scrap exports from Singapore was India. The country imported 173,980 tons of scrap, accounting for nearly 29% of total scrap exports by Singapore during this period. However, when compared with the similar period last year, the exports were down significantly by 24.2%. The other key importers during the ten-month period were Vietnam (136,750 tons) and Indonesia (126,540 tons).

The Russian scrap exports totaled 530,000 tons in August 2017, rising considerably by 28.2% when matched with the previous year. However, the year-to-date exports were down by nearly 14%. The exports during Jan-Aug ’17 totaled around 3.18 million tons. Turkey was the largest buyer of Russian scrap with purchases of nearly 1.37 million tons, followed by Belarus (810,000 tons) and South Korea (590,000 tons).

China exported 508,100 tons of scrap in September, surging higher by 24% when compared with the previous month. The data published by the Japanese Ministry of Finance (MoF) indicates that the country’s scrap exports jumped higher by 9% to total 698,000 tons in September this year.

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