Ferrous scrap export through European port registers steep decline

Author: Paul Ploumis
19 May 2015 Last updated at 01:52:38 GMT
BRUSSELS (Scrap Monster): The ferrous scrap export through Port of Antwerp in Belgium has declined considerably during the first quarter of the current year. The most recent statistics released by the Port Authority officials also indicate that steel imports remained flat over the previous year during the quarter.

The ferrous scrap exports through the port’s scrap terminal totaled nearly 250,000 tonnes during the three-month period from January to March this year. This is much lower when compared with the average quarterly exports of nearly 375,000 tonnes through the port during 2014. As per estimates nearly 1.2 million tonnes to 1.5 million tonnes of scrap are exported through the port every year.

Meantime, steel imports into the European region through the port remained more or less flat during Q1 2015. The imported steel through the port totaled 1.1 million tonnes, almost steady when compared with the corresponding quarter a year before. The port authorities also stated that the steel exports through the Port of Antwerp remained almost steady in Q1 2015, though they were slightly higher during Q1 last year.

The overall steel products import through the port had totaled 4.5 million tonnes during the entire year 2014. Out of this, imports from China had totaled 2 million tonnes, accounting for almost 44.5% of the total imports during the year. The share of Chinese products increased further during Q1 2015. Out of the total 1.1 million tonnes imported through the port, nearly 500,000 tonnes were of Chinese origin, thus constituting 45.5% of the total imports during the quarter.

The Port of Antwerp in Belgium is considered as the principal steel gateway of the entire European region.