Scrap imports paint a mixed picture in January

BEIJING (Scrap Monster): The monthly trade statistics released by various scrap importing countries for the month of January this year have painted a mixed picture. The scrap imports by Turkey, Japan, South Korea and Pakistan registered increase. On the other hand, Malaysia and India reported drop in scrap import volumes.

According to Turkish trade statistics, the country imported 1.52 million tons of scrap during the month, significantly higher by 34% as compared with the same month a year before. The Turkish scrap imports had totaled only 1.13 million tons during January 2016. The average import prices climbed higher to $256.7 per ton. The total value of imports amounted to nearly $391 million during January this year. The largest scrap supplier to Turkey was the US. The imports from the US were up by over one-fourth over the previous year to 303,000 tons. In second place was the Netherlands with 218,000. The imports from the Netherlands too climbed higher by nearly 20% over the previous year.

The latest data published by the Japanese Ministry of Finance (MoF) indicates that the country’s scrap imports totaled 24,800 tons in Jan ’17. Although this is significantly lesser when matched with the previous month, the volumes almost doubled over the previous year, mainly on the back of huge surge in imports from Hong Kong. The imports from that country totaled 10,516 tons, accounting for 42.4% of Japan’s total monthly imports. The imports from South Korea totaled 7,635 tons, followed by Taiwan with 3,942 tons.

The South Korean scrap imports have surged higher by 22% over the previous year in January this year, as per the Korea International Trade Statistics. The country’s imports totaled 484,000 tons during the month. When compared with the prior month, the imports were down by 5.6%. The top exporter of scrap to South Korea was Japan. The imports from Japan made up nearly 56% of the country’s total monthly imports. The imports of 274,000 tons during the month were up considerably by over 15%. Russia exported 72,000 tons of scrap to South Korea in January this year. The imports from that country surged higher significantly by nearly 55% over the previous year.

According to data released by the Pakistan Federal Statistical Office (PFBS), the country’s scrap imports edged higher by 8.3% over Jan ’15 to 431,545 tons. The imports increased by 14.6% when compared with the previous month. The scrap imports by the country were valued at $112.3 million.

Meantime, India imported 633,000 tons of scrap in January this year, falling significantly by nearly 24% over the previous year. However, the imports were up by 31% when matched with December 2016. The country’s scrap imports had totaled 6.382 million tons during the entire year 2016.

Also, Malaysia reported sharp decline in scrap imports during the month. The imports by the country were down by nearly 43% over the previous year. Malaysia’s key supplier of scrap during the month was Singapore. The imports from Singapore totaled 89,000 tons, accounting for 37.6% of Malaysia’s total imports. In second place was the US with 49,000 tons. The imports from the US declined considerably by 53% over January 2016.