South African Ferrous Scrap Exports Down 12% in August
South Africa, one of the leading scrap exporters observed fall in its ferrous scrap exports in Aug’18 on monthly basis against exports recorded in Jul’18. As per recent customs data, the country exported 39,370 MT ferrous scrap in Aug’18, down 12% M-o-M as against exports recorded at 44,947 MT ferrous scrap in Jul’18.
On yearly premises, the country witnessed sharp rise of 45% Y-o-Y in its scrap exports in Aug'18 as against 27,120 MT in Aug’17.
Port wise – In Aug’18, the majority of the scrap exports made from South Africa have been done through major ports like Durban (49%), Johannesburg (26%), Pretoria (10%), Port Elizabeth (8%) and Cape Town (6%).
India remained the largest importer of South African ferrous scrap - India witnessed considerable increase in its scrap imports from South Africa in August. India imported 20,734 MT, up 33% M-o-M as against 15,535 MT in Jul'18. While other prominent importers like Bangladesh (9,007 MT, down 30% M-o-M) and Pakistan (4,095 MT, down 70% M-o-M) have witnessed falling scrap imports on slowdown in purchasing amid religious holidays in Aug-Sept’18. Indonesia recorded 28% M-o-M rise in scrap imports in Aug’18 from South Africa.
Top three importers India, Bangladesh and Pakistan occupied 53%, 23% and 10% share individually comprising total 86% share of ferrous scrap exports from South Africa in Aug’18.
South African scrap exports edged up Y-o-Y during Jan-Aug’18 - South Africa exported 320,240 MT ferrous scrap during Jan-Aug’18, up 3% Y-o-Y as against 310,319 MT scrap imports recorded during the first eight months of last year.
India imported highest 149,240 MT ferrous scrap in Jan-Aug’18, up 37% Y-o-Y as against 108,785 MT in Jan-Jul’17. Pakistan imported 93,636 MT, down 23%Y-o-Y while Bangladesh witnessed a sharp growth of 88% Y-o-Y in scrap imports from South Africa amid increasing scrap consumption in the country.
According to the data released by World Steel Association, crude steel production in South Africa slipped marginally at 0.528 MnT in August as against 0.535 MnT Jul’18. While it recorded at 4.26 MnT during Jan-Aug’18 as against 4.12 MnT during Jan-Aug’17.
source: SteelMint
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