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US steel scrap exports declined by over 3% in July

iconSep 9, 2016 18:48
Source:SMM
The most recent trade statistics released by the US International Trade Commission (US ITC) indicates that the country’s steel scrap exports dropped modestly during the month of July this year.

By Paul Ploumis (ScrapMonster Author)

September 09, 2016 06:01:57 AM

ALBANY (Scrap Monster): The most recent trade statistics released by the US International Trade Commission (US ITC) indicates that the country’s steel scrap exports dropped modestly during the month of July this year.

The US steel scrap exports during the month totaled 870,771 tons. This is lower by nearly 16% when compared with the exports during the prior month. The US scrap exports had totaled 1.034 million tons, after hitting the highest level in almost 18 months during May this year. The July ’16 scrap exports were down by 3.3% over the previous year. The value of exports witnessed considerable decline of 19% year-on-year to total $256.4 million.

The largest export destination of US scrap during July this year was Turkey. The US steel scrap exports to Turkey totaled 217,154 tons, accounting for nearly 25% of the total scrap exports by the US during the month. The scrap exports to Turkey increased sharply by 146% month-on-month. The second largest export destination of US steel scrap was Mexico. The exports to the country totaled 150,967 tons during the month. Taiwan was the third largest consumer of US scrap during the month with imports totaling 139,715 tons.

The cumulative steel scrap exports during the initial seven-month period of 2016 totaled 6.771 million tons. The monthly exports averaged at 967,000 tons during the first seven months of 2016. Also, going by the current rate, the country’s steel exports are estimated to cross 11 million tons for the whole year 2016.

Exports-June ’16

In June ’16, the US exported 1.034 million tons of scrap. The exports dropped by 21.5% over the previous month and by 12.1% over the previous year. The total value of scrap exports amounted to $3.328 billion during the month, significantly down by 18% over the previous year.

The largest importer of US scrap during the month was Mexico. The imports of US scrap by the country surged significantly higher by 156.6% year-on-year to 222,579 tons. In second place was Kuwait with 133,122 tons, followed by Taiwan (90,643 tons), Peru (89,277 tons) and Turkey (88,028 tons).

Exports-May ’16

In May ’16, the US exported 1.317 million tons of scrap. The exports surged higher by nearly 36% over the previous month and by 6.3% over the previous year. The largest importer of US scrap during the month was Turkey. The imports of US scrap by the country increased sharply by 56.7% year-on-year to 519,000 tons, when matched with the exports of 331,000 tons during Mat last year.

Exports-April ’16

The country’s steel scrap exports totaled 969,409 tons during April this year. The exports dropped marginally by 2.6% when matched with the previous month. Year-on-year, the exports have recorded sharp decline of 16.9%. The largest export destination of US scrap during the month was Turkey. The exports to Turkey totaled 261,488 tons, accounting for nearly 27% share of US exports during the month. The other key importers of US scrap were South Korea (125,816 tons), India (121,774 tons), Taiwan (97,979 tons) and Mexico (80,632 tons).

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

Month->

Jan

Feb

Mar

Apr

May

Jun

Jul

Exports (Tons)

552,000

1,033,000

995,288

969,409

1,317,000

1,034,000

870,771

  


US steel scrap exports

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