Home / Metal News / Ferrous scrap imports by China plunged 20% during first seven months of 2016

Ferrous scrap imports by China plunged 20% during first seven months of 2016

iconSep 6, 2016 09:57
Source:SMM
As per Customs data, the imports totaled 165,414 metric tons (MT) during July this year. The imports declined by 2.4% when compared with the same month a year before.

By Anil Mathews (ScrapMonster Author)

September 05, 2016 07:51:54 PM

BEIJING (Scrap Monster): The most recent data released by the Chinese Customs authorities indicates that the country’s ferrous scrap imports declined sharply during the initial seven-month period of the current year. The imports during July ’16 too dropped significantly when matched with the prior month.

As per Customs data, the imports totaled 165,414 metric tons (MT) during July this year. The imports declined by 2.4% when compared with the same month a year before. The Chinese ferrous scrap imports had totaled 169,481 MT during July 2015. The imports declined for fifteenth month in a row year-on-year. The July ’16 imports were down 3.9% from a month ago. The imports had totaled 172,201 MT in June this year.

The largest exporter of ferrous scrap to China during July was Japan. The imports from Japan totaled 148,069 tons, accounting for nearly 90% of the total imports by the country during the month. The imports from Japan dropped marginally by 2.5% from the previous month. South Korea was the second largest import source during the month. China’s ferrous scrap imports from South Korea totaled 5,648 tons, accounting for 3.4% share of the country’s imports during the month. The imports from the country increased marginally over the previous month. The other key exporters of ferrous scrap to China during the month of July this year were Belgium (1,961 tons), Hong Kong (1,918 tons), Australia (1,281 tons) and the Netherlands (979 tons).

The cumulative imports during the initial seven-month period of the year totaled 1.164 million tons. The imports were significantly less by 19.3% than the exports during the corresponding seven-month period in 2015. The Chinese ferrous scrap imports had totaled 1.443 million tons during Jan-July ’15.

The largest exporter during the initial seven-month period in 2016 was Japan. The imports from the country totaled 1.023 million tons, dropping sharply by 15% in comparison with the imports of 1.203 million tons during Jan-July ‘15. The imports from Japan accounted for 87.8% share of the total Chinese imports during the period. In second place was South Korea with 37,475 tons, accounting for 3.2% of the total imports. The imports from South Korea too declined significantly by 30.9% year-on-year. The other key suppliers of ferrous scrap to China during this period were Australia (13,208 tons, down 53.5%), Belgium (10,245 tons, up 28.5%) and Hong Kong (9,661 tons, down 15.8%).

The following table summarizes the country’s ferrous scrap imports during the initial seven-month period of the current year.

Month->

Jan

Feb

Mar

Apr

May

Jun

Jul

Imports (Tons)

130,918

122,226

187,920

201,142

184,337

172,201

165,414

Imports-June ‘16

The scrap imports by China during the month of June this year totaled 172,201 tons. The monthly imports were down sharply by 6.58% from the prior month. The top three exporters of ferrous scrap to China during the month were Japan (151,678 tons), South Korea (5,560 tons) and Australia (3,001 tons).

Imports-May ‘16

The scrap imports by China during the month of May this year totaled 184,337 tons. The imports tumbled by 8.4% when compared with the scrap imports during the month before that.

The largest scrap exporter to China during May ‘16 was Japan. The scrap imports by China from Japan totaled 162,687 tons. The scrap imports from the country accounted for over 88% of the total scrap imports by China during the month. The Japanese scrap exports to China over 7% month-on-month. The second largest scrap exporter to China during the month was South Korea. The imports from the country totaled 5,904 tons, accounting for approximately 3% of the total scrap imports by China during the month. The other key sources of scrap imports during the month were Belgium (2,810 tons), Hong Kong (1,973 tons), Australia (1,797 tons) and Taiwan (1,653 tons).


imports
ferrous scrap imports

For queries, please contact Michael Jiang at michaeljiang@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news

SMM Events & Webinars

All