Global Ferrous Scrap Trade Witnessed Mixed Trend

SEATTLE (Scrap Monster): The ferrous scrap trade data published by various countries suggest that the global trade was a mixed bag during the month of February this year.

According to latest statistics, the U.S. imported a total of around 317,000 tons of scrap during the month. The imports registered sixth consecutive month of year-on-year decline. Also, it hit the lowest level in almost 18 months. The imports posted 27.6% decline from the prior month. The largest source of import was Canada, whose supplies totalled 243,000 tons. In second place was Mexico with supplies of 47,000 tons.

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The U.S. International Trade Commission (ITC) data indicates that the scrap exports by the country surged higher by 7% month-on-month to total around 1.36 million tons in February 2022. The exports to Turkey accounted for the biggest proportion, totalling roughly 365,800 tons. The other major export destinations were Mexico, Bangladesh, Taiwan and South Korea.

Meantime, the data published by the Turkish Iron and Steel Producers’ Association (TCUD) indicates that the country imported around 1.9 million tons of scrap in February, down significantly by 24% from the previous month. The cumulative imports totalled around 4.5 million tons in the first two months of the current year. The three primary sources of import were the EU, the U.S. and the CIS region.