Steel scrap exports by EU-28 countries fell sharply in August

CANTERBURY (Scrap Monster): The steel scrap exports by EU-28 countries reported sharp decline during the month of August this year. The cumulative exports during the initial eight-month period of the current year too dropped sharply, as per the latest EU trade statistics released yesterday.

According to trade data, the EU-28 region’s steel scrap exports totaled 714,000 tons during the month of August this year. The exports were down by 54% when compared with those during the previous year. The steel scrap export by the EU-28 countries had totaled 1.552 million tons during August last year. Month-on-month, the scrap exports by the region dropped almost 14.5%. The scrap exports had totaled 835,000 tons during July this year.

The steel scrap exports by the EU-28 countries totaled 9.006 million tons during the initial eight-month period in 2015. The exports were down by 22.2% when compared with those during the corresponding eight-month period last year. The steel scrap export by the EU-28 countries had totaled 11.576 million tons during January to August in 2014.The average monthly exports volumes of steel scrap stood at 1.126 million tons during the initial eight months of the year.

The largest importer of steel scrap from EU-28 region was Turkey. The scrap imports by Turkey totaled 5.118 million tons, constituting nearly 56.8% of the total scrap exports by EU-28 nations during this period. The scrap exports to Turkey dropped by 26.1% over the previous year.

In second place was India with 873,000 tons. The exports to India dropped by 13.5% when compared with the exports during Jan-Aug ‘14. The steel scrap imports by India accounted for 9.7% of the total exports by EU.

The EU steel scrap exports are estimated to touch 13.51 million tons during the entire year 2015.