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Key Asian Countries Release Scrap Import and Export Statistics for July 16

iconSep 7, 2016 15:00
Source:SMM
Major countries in the Asian region have published the scrap import and export statistics for the month of July this year.

By Anil Mathews (ScrapMonster Author)

September 07, 2016 02:52:35 AM

BEIJING (Scrap Monster): Major countries in the Asian region have published the scrap import and export statistics for the month of July this year.

The latest statistics released by the Japanese Ministry of Finance (MoF) indicates that scrap steel exports by the country declined significantly during the month of July this year. The monthly exports registered year-on-year decline for the first time in ten months.

The Japanese scrap exports totaled 647,000 tons during July this year, dropping considerably by 24.5% when matched with the exports during the prior month. Year-on-year, the scrap exports registered decline of 13.7%.

South Korea was the largest importer of Japanese scrap during the month. The scrap imports by the country totaled 360,000 tons. The scrap exports to South Korea dropped sharply by 16.4% over the previous year. In second place was China with scrap steel imports from Japan totaling to 157,000 tons. The exports to China surged significantly higher by nearly 20.9% year-on-year.

The cumulative exports during the initial seven-month period of the year totaled 5.424 million tons. The exports were up by 11% when matched with the corresponding seven-month period in 2015. The average monthly exports stood at 775,000 tons during Jan-July ’16.

Also, the recent data released by the Chinese General Administration of Customs indicates that the country’s ferrous scrap imports dropped sharply during the month of July this year. The cumulative imports during the initial seven-month period of the year too declined significantly.

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, declining 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. 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 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. In second place was South Korea with 37,475 tons. 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 statistics released by the Korean authorities suggest that the country’s scrap imports totaled 482,000 tons in July this year. This is down by 5.3% when matched with the prior month. When compared with the previous year, July ’16 imports were down sharply by 13.7%.

The key exporter of scrap to Korea during the month was Japan. The scrap steel imports from Japan totaled 289,000 tons. The imports from Japan witnessed year-on-year decline of 9.6%. The Korean scrap imports from Russia totaled 90,000 tons during the month, dropping by over 12% when matched with July 2015. The scrap imports from the US too declined by 11.2% year-on-year to 60,000 tons during the month.

The country’s cumulative scrap imports during the initial seven-month period of the year totaled 3.298 million tons.

Meantime, Korea’s scrap steel exports increased significantly by over 60% during July ’16 to total around 59,000 tons. Bangladesh was the key export destination, accounting for almost 45% of the total Korean exports. The scrap steel exports to Bangladesh totaled nearly 26,000 during the month. The combined exports during Jan-July ’16 totaled 329,000 tons, rising significantly by 21% year-on-year.


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