Ferrous Scrap Trade Posted Mixed Trends in Early-2022

The scrap exports by Singapore totalled 59,000 tons in January this year, falling significantly by almost 30% from the prior month.

SEATTLE (Scrap Monster): The recent statistics published by the U.S. International Trade Commission (USITC) says that the country exported around 1.27 million tons of scrap in the opening month of 2022, significantly higher by 10.3% from the same month a year before. The exports witnessed month-on-month surge by 14.5%. The value of exports totalled around $597 million during the month.

The largest export destination was Turkey, which received roughly 305,500 tons from the U.S. The exports to Turkey were up by 15.4% year-on-year. The other major export destinations were Mexico (170,500 tons), Bangladesh (168,600 tons) and Egypt (95,100 tons).

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The scrap exports by Singapore totalled 59,000 tons in January this year, falling significantly by almost 30% from the prior month. The exports to Indonesia totalled 24,000 tons, rising higher significantly by nearly 200%. The other major importers of scrap from Singapore were Vietnam (18,000 tons) and Malaysia (9,000 tons).

Meantime, Taiwan’s ferrous scrap imports totalled around 458,800 tons in Jan-Feb ’22. The largest supplier was U.S. with 231,900 tons. In second place was Japan with 46,800 tons. The supplies from Japan recorded notable decline by nearly 68%.

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