By Carolina Curiel (ScrapMonster Author)
August 30, 2016 08:04:36 AM
EDGWARE (Scrap Monster): The recently released half-yearly export data indicates that the EU steel scrap exports rose by over 15% during the initial six-month period of 2016. The exports totaled 1.271 million tons during the month of June alone.
The EU region’s scrap exports to countries outside the European Union totaled 8.59 million tons in Jan-June ‘16, up by 15.2% over the previous year. The EU scrap exports had totaled 7.46 million tons during the corresponding six-month period last year. The monthly exports averaged at 1.432 million tons during H1 2016. The region’s estimated annual scrap export volume is likely to exceed 17.20 million tons during the current year.
The key importer of EU scrap during the first half of 2016 was Turkey. The scrap imports by Turkey totaled 5.01 million tons during the period, accounting for over 58% share of total exports by the region during the month. The steel scrap exports to Turkey were up by almost 14% year-on-year in Jan-June ‘16.
India was the second largest importer of EU scrap. The total scrap exports to India increased by 29% to touch 957,000 tons during H1 2016. Exports to India accounted for 11.14% of the total exports out of the EU region. In third place was Pakistan with total scrap imports from the EU amounting to 767,000 tons. The imports by the country accounted for nearly 9% of the total EU exports. The scrap imports by Pakistan surged higher significantly by 58.5% over the previous year.
The EU-28 region had exported 1.727 million tons of scrap during May. The exports registered marginal increase of 1% over the previous month. The May ’16 exports rose significantly by nearly 30% when compared with the previous year.
The EU region’s scrap exports to countries outside the European Union totaled 1.71 million tons in April 2016, up by 16.4% over the previous year. The EU scrap exports had totaled 1.47 million tons during the corresponding April last year. The largest export destination for EU steel scrap during the month was Turkey. The exports to Turkey totaled 1.044 million tons, accounting for more than 60% of the total exports by the region. Also, the exports to the country registered an increase of 28.5% year-on-year.
The EU steel scrap exports had witnessed 10% rise during the initial quarter of the year. The EU region’s scrap exports to countries outside the European Union had totaled 3.884 million tons, up by 10.2% over the previous year. The monthly exports had averaged at 1.295 million tons during Q1 2016.
Exports during 2015
The yearly steel scrap exports by the EU region dropped significantly in 2015, in comparison with 2014. The total exports during the year amounted to 13.743 million tons, 18.9% lower when compared to the total exports of 16.95 million tons during 2014.
The largest importer of EU scrap during the year was Turkey. The exports to Turkey totaled 8.079 million tons, accounting for nearly 60% of the total exports from the region. India was the second largest importer of EU scrap. The total scrap exports to India dropped marginally by 5.9% to touch 1.433 million tons during 2015. In third place was Pakistan with total scrap imports from the EU amounting to 990,000 tons, constituting 7% share of total EU steel scrap exports during the year 2015.