Posted on 20 Oct 2022
The US regained its position as the world’s leading steel scrap exporter in the first half of 2022 despite a 5.6% year-on-year decline in shipments to 8.874mt. Leading buyers that increased their purchases from the US were Mexico with a 21.4% increase to 2.005mt, Turkey with a 23.4% increase to 1.969mt, Bangladesh with a 44.7% rise to 0.900mt, and the Republic of Korea with a 34.7% increase to 0.357 mt.
For the EU-27, the world’s second-largest steel scrap exporter, the first half of this year brought a sharp decline in shipments which fell by 23.9% to 8.515 mt. Its main buyers were Turkey which declined supply by 23.8% to 5.805mt, Egypt with a 39.8% fall in supply to 0.625mt and Switzerland with a 9.4% fall to 0.318mt. The EU-27’s largest steel scrap exporter in the first half of 2022 was the Netherlands despite a 35.8% fall in shipments to 1.822mt. Over the same period, EU-27 internal steel scrap exports totalled 14.385 mt with a year-on-year drop of 7.3%.
The world’s third-largest steel scrap exporter in the first half of 2022 was the UK, with a 0.8% decline in shipments to 4.104mt. Its main buyers were Turkey with a 25.9% fall to 1.053mt, Egypt with a 21.9% increase to 0.856mt and Bangladesh with an 87.6% rise to 0.529mt.
Increases in exports were recorded in the first six months of 2022 by Canada, Singapore, Norway, Malaysia, and Brazil. Conversely, exports declined in Japan and Australia.
Regarding global steel scrap markets, export prices to Turkey from the USA and the EU-27 followed the same course in the first half of 2022.
Source:Kallanish
