Sales to Turkey grew by 14.1%, US Census Bureau data show.
Turkey remained the largest export destination for US ferrous scrap last year, taking in 3,631,496 tonnes – with 1,427,313 tonnes of that comprised of shredded scrap and 1,708,541 tonnes of No. 1 and No. 2 heavy melting scrap, up 18.5% and 15.7% respectively from 1,204,307 tonnes and 1,476,969 tonnes the previous year.
Healthy demand from international mills led US ferrous scrap export prices to strengthen significantly throughout the year. American Metal Market’s weekly East Coast ferrous scrap export index for heavy melt averaged $321.40 per tonne fob New York in December, a $53.65-per-tonne gain from $267.75 per tonne in January 2017.
Mexican mills came in second in terms of volume, with purchases from US suppliers increasing by 5.4% last year. No. 1 and No. 2 heavy melting scrap shipments to the country jumped to 733,990 tonnes (from 500,363 tonnes), completely offsetting declines in shredded scrap and No. 1 bundles to 305,067 tonnes (from 387,462 tonnes) and 93,318 tonnes (from 105,938 tonnes) respectively.
Meanwhile, US shipments to India and South Korea contracted by 35.9% and 37.1% respectively from 2016 levels as those countries’ mills scaled back bookings. Shredded scrap sales to India almost halved to 384,157 tonnes from 600,638 tonnes, while South Korea’s intake of No. 1 heavy melting scrap from US suppliers declined to 132,198 tonnes from 243,041 tonnes.
While major export destinations like Turkey, Mexico, India and Taiwan still play a key role in the US ferrous scrap export sector, non-traditional markets have started to make a splash this year. The most notable year-on-year volume increases came from Bangladesh, Egypt and Vietnam.
Shipments of No. 1 heavy melt and shredded scrap to Bangladesh spiked to 183,769 tonnes and 364,862 tonnes last year, up from 84,525 tonnes and 174,627 tonnes previously.
Ferrous scrap deliveries to Egypt soared over 200% to 399,694 tonnes – of which 200,795 tonnes was No. 1 and No. 2 heavy melt and 198,135 tonnes shredded scrap. Vietnamese mills almost doubled their intake, receiving 201,665 tonnes of shredded scrap and 331,331 tonnes of No. 1 and No. 2 heavy melt.
Shredded scrap remained the most popular export scrap grade, with 5,328,990 tonnes shipped overseas in 2017. That’s up 22.5% from 4,351,014 tonnes the previous year. Sales of No. 1 and No. 2 heavy melt also showed growth, totaling a combined 5,023,392 tonnes last year, up 19.4% from 4,207,942 tonnes in 2016.
Reference: Metal Bulletin
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