Asian demand boosts US ferrous scrap exports in 2018

Improved broad-based demand from global steelmakers significantly boosted ferrous scrap exports from the United States in 2018, successfully offsetting lower annual shipments to Turkey.

Ferrous scrap exports as a whole rose by 15.7% year on year in 2018 despite a 5.6% drop in deliveries to Turkey, according to US Census Bureau data. This was due to increased sales to various export markets worldwide, particularly those in Asia. Turkish mills received significantly more No 1 heavy melting scrap (HMS) than shredded scrap from US suppliers in 2018. HMS 1 exports to Turkey totaled 1,537,939 tonnes last year, up by 4.8% from 1,467,024 tonnes the prior year. Meanwhile, shredded scrap exports to Turkey fell by 12.9% to 1,239,079 tonnes from 1,422,258 tonnes. Unlike US domestic scrap prices, ferrous scrap export prices...

Published

Mei Ling Toh

March 12, 2019

21:44 GMT

New York