World Ferrous Scrap Trade Witnessed Mixed Trends

SEATTLE (Scrap Monster): The ferrous scrap trade data for the initial six-month period of the year exhibited mixed trends.

According to data released by the U.S. International Trade Commission (USITC), the country’s scrap exports totalled 1.65 million tons, recording marginal growth by 2.9%, compared with the same month a year before. The value of exports registered a decline by 1.4% year-on-year to $664 million. The primary export destinations were Mexico (535,000 tons), Singapore (384,000 tons) and Bangladesh (219,000 tons).

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The data published by the Turkish Iron and Steel Producers’ Association (TCUD) indicates that Turkish scrap imports totalled around 1.6 million tons in June this year, falling significantly by 22% from June 2021. The cumulative scrap imports during the first six months of 2022 totalled around 12.5 million tons valued at $6.4 billion. The top three sources of import were the EU (6.36 million tons), the U.S. (2.23 million tons) and the UK (1.14 million tons).

Meantime, Japan’s ferrous scrap exports totalled approximately 488,300 tons and 3.1 million tonnes during June 2022 and Jan-June ’22 respectively. The largest export destinations of Japanese scrap exports were South Korea, Vietnam and Taiwan. The exports to South Korea surged, while those to Vietnam and Taiwan registered decline year-on-year.