By Carolina Curiel

ESSEX (Scrap Monster): According to EU trade statistics, the ferrous scrap exports by the EU-28 nations surged higher significantly in October last year, upon comparison with the previous month.

The ferrous scrap export by EU-28 countries to outside of EU region totaled 1.541 million tons during October last year. The exports registered fourth consecutive month of increased. The Oct ’16 exports were the fourth highest monthly export total after May (1.732 million tons), April (1.711 million tons) and March (1.581 million tons). The exports surged higher by over 10.6% when compared with the month before. The EU-28 countries had exported 1.393 million tons in September last year.

The largest importer of scrap from EU region was Turkey. The imports by Turkey totaled 856,000 tons during the month, accounting for over 55% of total scrap exports by the EU-28 region in Oct ’16. When compared with the same month a year before, the EU steel scrap exports to Turkey surged higher by 48.6%.

The cumulative scrap exports by the region totaled 14.213 million tons during the first ten months of 2016. The exports during this period have increased by 26.2% over the previous year. The EU-28 region had exported 11.253 million tons during January to October in 2015. The monthly exports averaged at 1.421 million tons during the initial ten-month period of 2016. Going by the current rate, the scrap exports by the region are expected to surpass 17 million tons during the entire year 2016.

Scrap Exports-Sep ‘16

The EU-28 countries exported 1.393 million tons of scrap steel during the month of September this year. The exports were up marginally by 0.3% when matched with the previous month. The country had exported 1.389 million tons of scrap steel during August 2016. The exports have registered month-on-month rise for the third consecutive month in a row.

The biggest importer of ferrous scrap from EU-28 countries during September this year was Turkey. The imports by Turkey totaled 806,218 tons, accounting for nearly 58% of the total scrap exports by EU-28 countries during the month. The Turkish imports from EU-28 countries witnessed marginal rise of 2.6% from August ’16. The country’s ferrous scrap imports had totaled 785,746 tons in August this year. Egypt was the second largest importer during the month, with 112,062 tons. The ferrous scrap exports to Egypt from EU_28 nations declined sharply by over 18% over the previous month. In third place was India with 110,732 tons. The other key importers of ferrous scrap from EU-28 region during the month were Pakistan (81,828 tons), Switzerland (47,673 tons) and the USA (40,614 tons).

The table below provides the summary of EU-28 region’s ferrous scrap exports during the first ten months of the current year.

Note: The above export figures are in million tons.