Scrap Export Trade Exhibited Mixed Trend in July

SEATTLE (Scrap Monster): The scrap export trade statistics published by government departments of various countries suggest mixed trend in scrap trade in July ’18.

The latest data published by the United States International Trade Commission (USITC) indicates 17% jump in scrap exports by the country, when compared with the prior month. The exports totaled 1.46 million tons, which is also up by 16% when compared with the same month a year before. Turkey, the top destination of exports, received 367,000 tons of scrap from the U.S. The other key importers were Mexico (152,000 tons), Taiwan (127,000 tons), Canada (124,000 tons) and Bangladesh (109,000 tons). The cumulative scrap exports by the country during the initial seven-month period of the current year totaled around 10.1 million tons.

Meantime, the Japanese Ministry of Finance (MoF) reported total scrap exports of around 610,000 in July ’18. The exports have dropped further by 5.9% over the previous month and by 11.4% from July ’17. Out of this, South Korea imported 330,000 tonnes of Japanese scrap followed by Vietnam and China with imports of 130,000 tons and 80,000 tons respectively. Also, Japanese stainless steel scrap exports surged higher by 13.4% over the previous month to total around 17,000 tonnes.

South Korean scrap exports plunged heavily by over 41% year-on-year to total 46,000 tons in July. The exports totaled nearly 2.8 million tons in the first seven months of 2018, which is considerably down by 28% over the year.