U.S. Scrap Iron and Steel Exports Surged 33% in First Quarter 2018

SEATTLE (Scrap Monster): The recent trade statistics published by the U.S. Census Bureau suggests notable jump in exports of scrap iron and steel by the country during the first quarter of 2018. The imports too increased significantly during the three-month period. The exports surged higher by 33%, whereas the imports were up by 15% over the previous year.

The U.S. exports of scrap iron and steel totaled $922.68 million through the first three months of 2018. The shipments rose significantly by 33% when compared with the same period in 2017. The exports had totaled $691.9 million during Jan-Mar ’17. It must be noted that the full year exports in 2017 had totaled $4.92 billion, higher by 37% when compared with the full year exports in 2016.

The key export destination of scrap iron and steel exports during the first quarter of 2018 was Turkey. The exports to Turkey totaled $313.97 million, accounting for nearly 22% of the total exports by the US during the quarter. Taiwan accounted for nearly 11% market share of US exports, importing $155.69 million of scrap iron and steel. The third largest destination was China with imports of $149.17 million. The other main importing countries were Mexico ($144.75 million) and India ($91.42 million).

The exports to the above top five markets totaled $573.11 million, accounting for more than 62% of the total U.S. scrap iron and steel exports in Q1 2018.

Meantime, the U.S. imported $414.3 million through March this year, surging higher by 15% from $360.19 million during the corresponding three-month period in 2017.

The largest exporter of scrap iron and steel to the U.S. was Canada. The imports from Canada totaled $257.95 million during the initial three-month period in 2018, accounting for nearly 62% of total U.S imports in Q1 2018. The other main suppliers were the Netherlands ($61.86 million), Mexico ($54.64 million), the U.K. ($13.68 million) and Sweden ($9.4 million). More than 98% of U.S. imports during the quarter were from these five countries.