World Scrap Trade Exhibited Mixed Trend in July

SEATTLE (Scrap Monster): The scrap trade data released by countries across the world points to mixed trend during the month of July this year.

One of the countries which recorded huge decline in scrap export volumes was Hong Kong. The monthly scrap exports by the country totaled around 80,000 tonnes in July '19. The exports dropped by nearly 40% when matched with the previous year. Upon comparison with the prior month, the July '19 exports were down marginally by more than 5%.

Hong Kong's scrap exports totaled around 570,000 tonnes in Jan-July '19. This is down significantly by almost 27% when matched with the corresponding period a year before. The largest scrap export destination was Vietnam, which imported around 200,000 tonnes of scrap, accounting for more than 35% of the total scrap exports by Hong Kong during this period.

The Turkish scrap imports declined sharply from January to July this year. The imports totaled around 10.8 million tons, down by 14.5% over the previous year. The imports were valued at around $3.4 billion, said the latest trade data published by the Turkish Iron and Steel Producers' Association (TCUD). The top scrap suppliers by region were the EU, followed by the U.S. and C.I.S.

In accordance with the U.S. International Trade Commission (USITC) statistics, the country exported around 1.6 million tons of scrap in July '19. The exports recorded a jump of nearly 12% year-on-year. The main destination of exports was Turkey, which received nearly 325,000 tons of the material exported by the U.S. The other key destinations along with import volumes in thousand tons are as follows: Vietnam (~250), Canada (~208), Taiwan (~142) and India (~110).