January US ferrous scrap exports fall to two-year low

Posted on 11 March 2021

US exports of steel scrap fell to 1,154,708 mt in January, down 31% from January 2020 and totaling the lowest monthly volume since the 955,673 mt shipped in January 2019.

Despite the low monthly volume, the 136,620 mt leaving the port of Philadelphia was its highest monthly volume since 156,168 mt was exported in June 2019. Most of the January 2020 volume leaving Philadelphia was comprised of shred and HMS 1 and 2 bound for Turkey and Egypt. New York was the busiest port in January, shipping 222,904 mt. Despite being the third busiest port in January, the 105,911 mt shipped from Los Angeles in January was the second-lowest on record, only higher than the 79,920 mt shipped in September 2003.

Turkey topped the list of export destinations for US ferrous scrap in January, importing 264,777 mt. Mexico received the second largest volume of material with 214,762 mt, followed by Bangladesh and Taiwan receiving 91,431 mt and 82,432 mt, respectively.

HMS 1&2 was the most popular US export grade, with 438,434 mt shipped in the first month of 2021. The US exported 318,236 mt of shredded scrap in January, along with 45,506 mt of plate & structural scrap and 10,281 mt of #1 and #2 busheling.

Source : Platts