By Paul Ploumis
SEATTLE (Scrap Monster): In accordance with the most recent statistics published by the US Census Bureau and International Trade Commission, the country’s scrap exports grew significantly during the month of April this year. The April ’17 scrap exports were up when compared with the exports during the same month a year before. Also, the exports inched higher when compared with March this year.
The monthly scrap exports totaled 1.77 million tons in April this year. This is significantly higher by 27.4% when compared with the year-ago month. The US scrap exports had totaled only 1.39 million tons during April 2016. When matched with the previous month, the exports were up by nearly 30% in April ’17. It must be noted that the US scrap exports in March this year had totaled 1.36 million tons.
The largest destination of US scrap export during April this year was Turkey. The exports to Turkey jumped higher by over 21% year-on-year to 315,000 tons. The country accounted for nearly 18% of scrap exported by the US during the month. In second place was Taiwan with 129,000 tons. The imports of US scrap by Taiwan were up by almost one-third during the month when compared with the same month last year. Mexico, with total US scrap imports of 94,000 stood third. The US scrap imports by Mexico increased considerably by 56.8% over the previous year. The top three importers accounted for more than 30% of total US scrap exports in April this year.
Meantime, the US H1 scrap export prices averaged at $271.83 per long ton, as on 5th June, 2017. The prices remained flat when compared with the previous week. The H1 scrap average price in Pittsburg was $284.50 per long ton, remaining unchanged over the previous week. In Chicago the prices averaged at $282.50 per ton, holding steady from last week. The average H1 scrap export price in Philadelphia was $248.50 per long ton, recording no change in prices when compared with the prior week.
US Scrap Exports-Q1 2017
The US ferrous scrap exports surged higher by nearly 30% during the first quarter of the current year. The US ferrous scrap exports to overseas destinations totaled 2.921 million tonnes during Q1 this year. This is significantly higher by almost 28% when matched with the total deliveries of 2.289 million tonnes during the corresponding quarter in 2016.
Turkey, the largest destination of US scrap exports, reported considerable decline during the quarter. The imports totaled 542,727 tonnes, down by 11.8% when matched with the previous year. The exports to India declined sharply by 82% over the previous year to total 65,205 tonnes. Also, South Korean imports of US scrap reported huge decline during Q1 ’17 to total 152,588 tonnes.
Meantime, the quarterly exports to Vietnam skyrocketed by 1043% to 167,854 tonnes. The US exports to China too increased considerably by 388% over the previous year to total 235,330 tonnes. Canada reported 173% jump in import volumes of scrap from the US. The US scrap exports to Canada totaled 163,730 tonnes during Q1 ’17. The US scrap exports to Mexico was up by 84% to 427,094 tonnes. The exports to Taiwan totaled 364,653 tonnes, recording sharp 61% jump over the previous year. Bangladesh’s total scrap imports from the US were up by 81% in the first quarter of 2017. The imports by the country totaled 121,878 tonnes in Q1 ‘17, data said.