US Scrap Iron and Steel Exports Surged 37% Through October

SEATTLE (Scrap Monster): The latest trade data published by the US Census Bureau suggests considerable rise in exports of scrap iron and steel from the US during the first ten months of the current year. The country exported $3.97 billion worth of scrap iron and steel during the mentioned period, significantly higher by 37% when matched with the exports of $2.90 billion during the corresponding period in 2016. The exports had totaled only $3.6 billion during the whole year 2016.

The primary importer of scrap iron and steel from the US was Turkey. The other key export destinations were China, Taiwan, Mexico and India. The exports to these top five market destinations totaled $2.46 billion, accounting for 62% of all scrap iron and steel shipments from the US during Jan-Oct ’17.

Turkey accounted for more than 20% of the total US shipment. The imports by Turkey totaled $795.4 million. The Turkish imports surged higher by nearly 43% when matched with the comparable period in 2016. The exports to China registered 39% year-on-year jump to total $694 million. The imports by that country accounted for nearly 17.5% share of US exports. In third place was Taiwan with imports totaling $376.3 million, higher by almost 24% from the previous year. The US scrap iron and steel exports to Mexico and India totaled $370.4 million and $219.2 million respectively.

The top five Customs Districts that were responsible for bulk of the scrap steel and iron shipments out of the US were Los Angeles, New York City, San Francisco, Boston and Philadelphia. These five ports together shipped $2.34 billion of the $3.97 billion total.

Meantime, imports of scrap iron and steel too have registered significant increase during the first ten months of 2017. The imports registered 56% jump year-on-year from $807.54 million in Jan-Oct ’16 to $1.26 billion through September this year. The US imports of scrap iron and steel have already surpassed the full year imports of $948.67 in 2016.

The key exporter of scrap iron and steel to the US was Canada. The imports from Canada totaled $815.5 million. Of the total imports, nearly 65% arrived from Canada. The imports from Mexico and the UK totaled $145.2 million and $131.1 million respectively. The other two leading suppliers of scrap iron and steel to the US were Sweden ($62.8 million) and the Netherlands ($51.4 million) The imports from these five countries accounted for nearly 96% of the total imports by the US during Jan-Oct ‘17.

The top five Customs districts in terms of value of imports were Detroit, Buffalo, New Orleans, Seattle and Mobile. The above five customs districts collectively received nearly 97% of all imports by the US during Jan-Oct ’17.