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US Ferrous scrap exports sink 4% in Jan-Nov 2016

iconJan 16, 2017 10:24
The US ferrous scrap exports declined from 10.563 million tons recorded in Jan-Nov ’15 to 10.151 million tons during the corresponding eleven months in 2016.

By Paul Ploumis

SPOKANE (Scrap Monster): The recent trade data published by the US Census Bureau and International Trade Commission indicates slight decline in ferrous scrap exports by the country during the first eleven months of 2016. The exports were down by 4% despite several countries reporting significant surge in export volumes during the period.

The US ferrous scrap exports declined from 10.563 million tons recorded in Jan-Nov ’15 to 10.151 million tons during the corresponding eleven months in 2016. The shipments out of the country were down by almost 4% year-on-year. Several countries including Bangladesh, India and Mexico reported considerable increase in scrap imports from the US. However, these increases were offset by sharp drop in imports by key markets including Turkey, South Korea and Taiwan.

The US scrap purchases by Mexico soared higher by almost 34% year-on-year during Jan-Nov ’16 to 1.277 million tons. The country’s imports of US scrap had totaled only 952,053 tons during the corresponding eleven-month period in 2015. India too reported 8% increase in scrap imports from the US, taking the total imports of US scrap by India to 976,880 tons. The largest increase in shipments was to Bangladesh. The imports by Bangladesh surged higher by 204% year-on-year from 96,045 tons in Jan-Nov ’15 to as high as 291,836 tons in Jan-Nov ’16.

On the other hand, the US ferrous scrap exports to Turkey declined by almost 19% year-on-year to 2.825 million tons. The shipments to South Korea too declined by almost one-fifth over the previous year to 771,064 tons during January to November in 2016. The exports to Taiwan too reported 9% decline year-on-year to total 1.114 million tons. China too reported significant decline in scrap imports from the US during the eleven-month period in 2016.

Exports-Oct ‘16

The US ferrous scrap exports totaled 1.239 million tons in October 2016. The shipments out of the country increased significantly by nearly 10.5% month-on-month. When matched with the exports during October 2015, the US ferrous scrap exports during the month were up considerably by 34.3%.

The largest importer of US ferrous scrap during the month was Turkey. The imports by Turkey from the US totaled 282,000 tons, accounting for almost 23% of the total shipments out of the US. The US ferrous scrap exports to Turkey surged higher by 9.6% over the previous year. The second largest destination of US scrap exports was Mexico. The Mexican imports totaled 148,000 tons, rising significantly by 12.1% when compared with October 2015. In third place was India with total imports of 123,000 tons during the month. The exports to India plunged lower by nearly one-third in comparison with the same month a year before.

Exports-Sep ’16

The US exported 1.12 million tons of scrap during the month. When compared with the prior month, the exports were down by 13%. The Sep ’16 scrap exports were down by 4.7% over the previous year. The largest importer of US ferrous scrap during the month was Turkey. The imports by Turkey from the US totaled 268,000 tons, accounting for almost one-fourth of the total shipments out of the US. The second largest destination of US scrap exports was Mexico. The Mexican imports totaled 188,000 tons. In third place was Taiwan with total imports of 126,000 tons during the month.

Meantime, the domestic US H1 scrap prices averaged at $286.17 per long ton, as on end-December last year. The prices remained increased for the third week in a row.

The H1 scrap average price in Pittsburg was $289.50 per long ton.  The average price increased marginally when compared with the previous week’s price. In Chicago the prices averaged at $292.50. The average price in Philadelphia was $276.50 per long ton.

US Ferrous scrap exports

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