Gain of nearly 30% in US ferrous scrap exports

Gain of nearly 30% in US ferrous scrap exports featured image

United States – US exports of ferrous scrap were nudging towards 3 million tonnes in the first three months of this year despite a sharp drop in shipments to Turkey, it is confirmed by latest data from America’€™s Census Bureau and International Trade Commission.

First-quarter deliveries to all overseas destinations totalled 2.921 million tonnes for an increase of approaching 28% over the 2.289 million tonnes dispatched from US shores in January-March last year.

An 11.8% year-on-year decline in trade with Turkey – from 615 347 tonnes to 542 727 tonnes – was more than offset by huge export gains to Mexico (+84% to 427 094 tonnes), Taiwan (+61% to 364 653 tonnes), China (+388% to 235 330 tonnes) and Canada (+173% to 163 730 tonnes).

However, all of these percentage increases were eclipsed by the 1043% surge in Vietnamese imports of US ferrous scrap from last year’s 14 689 tonnes to 167 854 tonnes.

In addition to Turkey, other leading buyers to take lower volumes of US scrap in the opening quarter of this year included South Korea, with a year-on-year reduction of 26% to 152 588 tonnes, and India, with a drop of nearly 82% to 65 205 tonnes.

Indeed, Bangladesh bought more US ferrous scrap in this year’s first quarter (+81% to 121 878 tonnes) than either India or Pakistan.

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