UK Bulk Ferrous Scrap Shipments Saw Notable Surge

SEATTLE (Scrap Monster): The UK scrap trade data indicates that Egypt emerged as the largest destination of bulk ferrous scrap shipments during the month of August this year. Nearly 59% of all bulk shipments from the UK were to Egypt. The cumulative ferrous scrap exports to that country totalled around 1.03 million tons, significantly higher by nearly 46% over the previous year.

The Japanese Ministry of Finance (MoF) announced that ferrous scrap exports totalled around 545,300 tons in August this year, down by 18.5% compared to the same month a year before. The exports during the first eight months of the year totalled around 5.3 million tons, registering 14.7% decline year-on-year. The largest export destination was South Korea, which imported around 2.12 million tons during this period.

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Meantime, the data released by the Turkish Iron and Steel Producers’ Association (TCUD) suggests that the country imported around 17.28 million tons of scrap during Jan-Aug ’21. This is significantly higher by 23.6%, compared with the year-ago period. The topmost three sources of import were the U.S., the EU and the CIS countries. The imports totalled approximately 2 million tons in the month of August alone.

The Vietnamese scrap imports too dropped by nearly 50% over the previous month, on account of the blockage measure announced by the administration.