US Ferrous scrap exports nosedived to almost half during 2011-2015

By Paul Ploumis

ScrapMonster Author

SPOKANE (Scrap Monster): The data released by the US Department of Commerce and the Bureau of Census indicates sequential fall in US ferrous scrap exports during the past five year period from 2011 to 2015. The total exports have almost halved during this period. The country’s scrap exports tumbled from 24.508 million mt in 2011 to as low as 12.768 million mt in 2015.

Scrap Exports-2011

The US scrap exports totaled 24.508 million mt during the entire year. The largest importer of US steel scrap during the year was Turkey. The imports by Turkey totaled 5.645 million mt, accounting for over 23% of the total US scrap export. The other key importers of US scrap were China (4.213 million mt) and Taiwan (3.533 million mt).

Scrap Exports-2012

The country’s scrap exports during the year totaled 21.346 million mt during the entire year. The largest export destination of US steel scrap during the year was Turkey. The imports by Turkey totaled 6.40 million mt, rising significantly when compared with the previous year. The other key export destinations were Taiwan (3.471 million mt), South Korea (2.816 million mt) and China (1.950 million mt).

Scrap Exports-2013

The US scrap exports totaled 18.471 million mt during the entire year. The largest importer of US steel scrap during the year was Turkey. The imports by Turkey totaled 5.232 million mt, accounting for over 28% of the total US scrap export. The other key importers of US scrap were Taiwan (3.004 million mt), South Korea (2.510 million mt) and China (1.830 million mt).

Scrap Exports-2014

The country’s scrap exports during the year totaled 15.319 million mt during the entire year. The largest export destination of US steel scrap during the year was Turkey. The imports by Turkey totaled 3.617 million mt, dropping sharply when compared with the previous year. The other key export destinations were Taiwan (2.620 million mt), South Korea (1.739 million mt) and Canada (978,043 mt).

Scrap Exports-2015

The country’s scrap exports during the year totaled 12.768 million mt during the entire year. Turkey maintained its position as the largest export destination of US steel scrap during this year. The imports by Turkey totaled 3.961 million mt, increasing by almost 10% when matched with the previous year. The other key export destinations were Taiwan (1.408 million mt), Mexico (1.152 million mt), India (1.105 million mt) and South Korea (1.091 million mt).

Meantime, the most recent trade statistics indicate that scrap exports across the initial seven-month period of the current year from the US have declined considerably. The shipments during Jan-July ’16 were down by nearly 15% when matched with the year before.

The cumulative shipments during the initial seven-month period of the year totaled 6.68 million tonnes. Turkish buyers accounted for 1.702 million tonnes of US ferrous scrap shipments. The Turkish purchases declined heavily by nearly 22% when matched with the corresponding seven-month period in 2015. The US steel scrap exports to Taiwan dropped by 43% to 738,538 tonnes, whereas the shipments to South Korea fell by over 21% to 494,003 tonnes during Jan-July ’16. The fall in shipments to these countries were mainly offset by increased shipments to India, Mexico and Canada. The shipments to India rose by nearly 34% year-on-year to 695,295 tonnes, whereas those to Mexico were up by 28% to 773,328 tonnes. The deliveries to Canada inched higher by 2.8% over the previous year to total 439,887 tonnes during the seven-month period. The US ferrous scrap exports to China tumbled by over 28% to 328,653 tonnes upon comparison with Jan-July ’15.