United States: Ferrous Scrap Imports Record High in 2017

As per recently released customs data, in CY17, United States ferrous scrap imports recorded highest since 2006. United States imported 4.36 MnT ferrous scrap in CY17 which has climbed up 21% Y-o-Y against 3.60 MnT ferrous scrap imports recorded during the last year. As per data available with SteelMint, United States has crossed 4 MnT mark for scrap imports for the first time since 2010.

United States witnessed the considerable rise of 18% in its monthly ferrous scrap imports in Dec’17, United States imported 0.33 MnT ferrous scrap in Dec’17 as against 0.28 MnT ferrous scrap imported in Nov’17. Likewise, in yearly comparison imports registered a growth of 22% Y-o-Y in Dec’17 against 0.27 MnT ferrous scrap imports in Dec’16.

During the second half of 2017, United States imported 1.98 MnT ferrous scrap which stood 16% lesser against 2.37 MnT in H1-2017. While imports in H2-CY17 increased 14% Y-o-Y against 1.73 MnT imports in H2-2016.

United States witnessed increase in ferrous scrap imports by 28% Y-o-Y in Q4-CY17. As against 0.76 MnT imports in Q4-CY16, United States ferrous scrap imports stood at 0.97 MnT in Q4-CY17. On a quarterly basis, United States registered marginal fall of 4% Q-o-Q in Q4-CY17 as against 1.01 MnT imports in Q3-CY17.

United States is world’s fourth-largest importer of ferrous scrap after Turkey, South Korea and India. Top unloading ports in United States for scrap import activities were Detroit, Seattle, Buffalo, New Orleans and Charleston.

United States witnessed increased EAF crude steel output in 2017 - According to the data released by World Steel Association, crude steel production in United States stood at 81.64 MnT during 2017 compared to 78.47 MnT in 2016, which is up by 4% Y-o-Y. Also, domestic steel prices in America increased since mid of 2017 and remained on the higher side. High scrap imports would be the result of hike in steel prices and increasing EAF output.

Canada remained top supplier of ferrous scrap to United States -

During CY17, Canada exported highest 3.03 MnT(+15% Y-o-Y) ferrous scrap to United States occupying almost 69% share of total ferrous scrap imports. United Kingdom remained second largest exporter to United States with 0.51 MnT(+42% Y-o-Y) ferrous scrap exports followed by Mexico (0.28 MnT, +115% Y-o-Y), Sweden (0.21 MnT, -19% Y-o-Y), Netherland (0.21 MnT, +17% Y-o-Y) and Japan (0.07 MnT) respectively.

Canada supplied highest 0.23 MnT ferrous scrap to United States in Dec’17 followed by United Kingdom and Mexico which supplied 0.08 MnT and 0.03 MnT ferrous scrap respectively. While other major exporters like Sweden and Japan remained silent with nil exports to United States in Dec’17.

Country-wise United States ferrous scrap imports -

Quantity in MnT,
Source: SteelMint Stats