US ferrous scrap export volume records massive 54% jump, says trade data

SEATTLE (Scrap Monster): The latest trade statistics published by the US Census Bureau and International Trade Commission indicates significant surge in ferrous scrap exports by the country during the initial two months of 2017. The exports recorded massive 54% jump over the previous year during Jan-Feb ’17.

According to data, the country’s ferrous scrap shipments totaled 2.1 million tonnes during Jan-Feb ’17, significantly higher by nearly 54% when matched with the corresponding period last year. The US ferrous scrap exports had totaled only 1.368 million tonnes during the first two months during the previous year.

The largest destination of American scrap export was Turkey. The purchases by Turkey surged higher by 19% over the previous year to 437,533 tonnes, accounting for nearly one-fifth of the total scrap exports by the country during the two-month period. The second leading importer of US scrap was Mexico. The imports by the country almost tripled over the previous year to total 333,821 tonnes. Mexico had imported only 114,255 tonnes of US scrap during Jan-Feb ’16. In third place was Taiwan with total imports of 235,549 tonnes. The Taiwanese imports of ferrous scrap from the US skyrocketed by 82% over the previous year.

Almost all leading importers of US scrap reported rise in import volumes. The largest increase of nearly 1500% was reported by Vietnam which imported 157,485 tonnes of scrap from the US. China too reported 244% jump in import volumes over the previous year. The imports by China totaled 104,945 tonnes. Thailand imported 107,164 tonnes, registering year-over-year increase of 58%. South Korea recorded 37% jump in import volumes during Jan-Feb ’17. The imports by the country from the US totaled 137,545 tonnes.

Meantime, scrap shipments to India and Pakistan witnessed considerable decline during the first two months of the current year. The imports by India totaled 38,741 tonnes, considerably down by 82% over the previous year. Pakistan too reported 34% plunge in scrap import volumes. The country’s imports of US ferrous scrap totaled 43,387 tonnes during Jan-Feb ’17. Pakistan had imported 65,738 tonnes of American scrap during the first two months in 2016.

The country’s ferrous scrap exports had started off 20174 in lackluster mode. The exports had totaled 977,969 tonnes during January this year. The largest scrap export destination during the month was Mexico. The Mexican imports climbed higher by 46% from the previous month to total 182,160 tons. The year-over-year rise in Mexican imports stood at 186%. The US scrap exports to Turkey dropped sharply to 82,017 tons during the month.

The country’s ferrous scrap exports had totaled 13.230 million tonnes (Mt) during entire 2016, inching higher by 3.6% over 2015. The primary importer of US ferrous scrap during the year was Turkey. The Turkish imports totaled 3.168 Mt, accounting for nearly 24% of the total US ferrous scrap exports during the year. The Mexican imports of US ferrous scrap skyrocketed by 78%, when compared with imports of 1.152 Mt recorded during 2015. In third place was Taiwan with total imports of 1.366 Mt.