Major Asian countries report significant surge in steel scrap import volumes

October 14, 2016 08:01:10 AM
BEIJING (Scrap Monster): The latest trade data published by various Asian countries suggest sharp rise in ferrous scrap import volumes.

According to Chinese Customs data, Chinese scrap steel imports rose significantly during the month of August this year. The import volume touched the highest level since April this year. The imports during the month totaled 191,000 tons, rising significantly by 26.3% over the previous year. The Chinese steel scrap imports had totaled around 151,000 tons during August last year. When matched with the previous month, Aug ’16 imports were up by 15.2%. The key exporter of ferrous scrap to China during the month was Japan. The imports from Japan totaled 171,000 tons, accounting for almost 90% of the total Chinese imports. The Japanese steel scrap exports to China surged higher by 35.7% over the previous year.

The Malaysian Department of Statistics data indicates that the country imported 30,193 tons of scrap steel during the month of June this year, the latest month for which data is available. The imports were up by 5.2% when matched with the previous month. The country had imported 28,711 tons of scrap steel during May 2016. However, monthly volume touched the highest level of 2016, providing early indications of sustained recovery in scrap import volumes.

The biggest exporter of ferrous scrap to Malaysia during June this year was Singapore. The imports from Singapore totaled 13,065 tons, accounting for more than 43% of the total scrap imports by Malaysia during the month. The imports from the country witnessed 6% rise from May ’16. The US was the second largest exporter during the month, with 8,670 tons. The ferrous scrap imports from the US surged higher by 42% over the previous month. In third place was Australia with 2,949 tons. The other key exporters of ferrous scrap to Malaysia during the month were Japan (2,270 tons), the UK (1,002 tons), Thailand (823 tons), New Zealand (494 tons) and Papua New Guinea (356 tons).

Taiwan’s scrap steel imports totaled 320,923 tons during August this year. This is the first time in three months that the country’s import volume has exceeded 300,000 tons. The imports surged higher significantly by 55% when matched with the prior month. The country’s scrap imports had totaled over 207,000 tons during July this year.

The top exporter of ferrous scrap to Taiwan during August ’16 was the US. The imports from the US totaled 152,785 tons, accounting for almost 48% share of total Taiwanese imports. The other major exporters during the month were Japan (57,842 tons) and Australia (15,087 tons).

Meantime, Thailand too reported considerable upsurge in scrap import volume during the month of July ’16. The monthly imports totaled 110,000 tons, rising by over 75% over the previous month. The imports had totaled only 63,000 tons in June ’16. However, the imports were down sharply by more than 25% when compared with those during the same month a year before.

The key exporter of scrap steel to Thailand in July ’16 was Australia. The imports from the country rose by one-third year-on-year to 37,000 tons. The exports from the US totaled 33,000 tons, declining sharply by 54% over the previous year.

The cumulative scrap steel imports by Thailand during the initial seven-month period of the year totaled 649,000 tons, marginally down by 0.6% over the previous year. The monthly imports averaged at 93,000 tons. Thailand’s scrap imports are estimated to total around 1.11 million tons during the entire year 2016.