Steel scrap exports by the US surged higher by 11% in October

The US ferrous scrap exports recovered sharply by 10.5% from 1.12 million tons recorded in September to 1.239 million tons in October.

SPOKANE (Scrap Monster): The US Commerce Department data for the month of October this year indicates modest recovery in ferrous scrap exports by the country. The exports increased by nearly 10.5% in comparison with the previous month. Also, the exports during the month were considerably higher by 34.3% when matched with the same month a year before. The scrap exports by the country in October 2016 has registered an increase for the first time in two months, said US DOC release.

The US ferrous scrap exports recovered sharply from 1.12 million tons recorded in September to 1.239 million tons in October. The shipments out of the country increased significantly by nearly 10.5% month-on-month. When matched with the exports during October last year, the US ferrous scrap exports during Oct ’16 were up considerably by 34.3%. The year-to-date exports totaled 10.334 million tons during the initial ten months of the current year.

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.

Exports-Aug ‘16

The country’s ferrous scrap exports rebounded sharply from the lows of 870,772 tons recorded in July to 1.295 million tons in August. The shipments out of the country surged higher by 48.8% month-on-month.

The largest importer of US ferrous scrap during the initial eight-month period of 2016 was Turkey. The imports by Turkey from the US totaled 2.033 million tonnes, accounting for more than one-fourth of the total shipments out of the US. Turkish buyers reported drop in purchases during the eight-month period in 2016. The Turkish imports declined by 17.5% when compared with those during January to August in 2015. The second largest destination of US scrap exports was Mexico. The Mexican imports totaled 966,334 tonnes, increasing significantly by 44% from the imports during the corresponding period last year. In third place was Taiwan with total imports of 892,854 tonnes during the eight-month period. The imports by Taiwan plunged 35% year-on-year. On the other hand, the US scrap exports to India jumped higher significantly by 24% to 727,118 tonnes.

Meantime, the domestic US H1 scrap prices averaged at $206.83 per long ton, as on end-November this year. The prices remained flat when compared with the previous week.

The H1 scrap average price in Pittsburg was $214.50 per long ton.  The average price held steady when compared with the previous week’s price. In Chicago the prices averaged at $217.50, remaining flat over the previous week. The average price in Philadelphia was $188.50 per long ton. The prices here held steady when compared with the week before.

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