Ferrous Scrap Exports from the UK Dipped 7.8%

SEATTLE (Scrap Monster): The UK ferrous scrap exports totalled 635,721t in April this year, significantly down by 7.8% from 689,392t in the same month a year before, said the latest trade statistics published by the Customs Department. The fall in shipments was mainly on account of supply disruptions and dip in demand in key overseas market destinations, impacted by Covid-19.

The shipments to south Asian markets witnessed notable decline on account of drastic decline in demand due to widespread disruption in industrial activity following severe lockdown in countries in the region, especially India. The UK ferrous scrap exports to India plunged by 78.4% to 17,062t. The shipments to Pakistan and Bangladesh recorded year-on-year declines by 29.4% and 85.9% respectively. Meantime, Pakistan emerged as the third largest importer of ferrous scrap from the UK.

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On the other hand, the exports to Turkey- the largest export market destination of UK ferrous scrap exports saw notable surge. The shipments to that country were up by 27.1% over the year at 243,777t. Also, export to Egypt rose by 120.68% to 160,998t.

The country reported no deep-sea bulk ferrous scrap shipments between 19^th April and 18^th May. The exports are likely to weaken further in May due to ongoing weakness in scrap demand.