Sweden: Ferrous Scrap Exports to Turkey Hit 6 Year High in Oct'18

Turkish scrap imports jump 9 folds while US imports remained nil in Oct’18 from Sweden

Sweden - one of the major scrap exporters among EU-28 witnessed a sharp jump in total scrap exports in Oct’18. As per recent customs data, the country exported 160,000 MT ferrous scrap, up 49% M-o-M in Oct'18 as against 107,167 MT ferrous scrap in Sept’18.

According to data maintained with SteelMint, Sweden scrap exports hit 4 years high in Oct'18 as earlier to this, scrap exports have crossed 160,000 MT mark in Oct’14 when it was recorded at 170,845 MT. While Turkish scrap imports from Sweden have recorded 6 years high since 2013.

On yearly basis, the country witnessed a jump of 35% Y-o-Y in Oct’18 as against 118,891 MT ferrous scrap in Oct’17.

Turkey remained the largest scrap importer - Turkey imported 91,389 MT ferrous scrap which increased more than 9 folds as against 9,970 MT recorded in Sept’18. Usually, global scrap availability lowers towards the closing of the calendar year which could have resulted in a pick up in restocking activities from Turkish steel mills in Sept-Oct’18.

Turkey occupied highest 57% share in Sweden scrap exports in Oct’18 followed by other prominent importers like Pakistan (11,809 MT, +10% M-o-M), Denmark (10,633 MT, +19% M-o-M), Norway (6,049 MT, -52% M-o-M) and Germany (5,934 MT, -56% M-o-M).

United States which had imported highest scrap from Sweden in Sept’18, observed nil import volume in Oct’18. Many of the US suppliers preferred to offer more to East Asian markets instead of Turkey. This might be another reason for increased imports from Sweden by Turkish importers in Oct'18.

The country exported 2,351,779 MT iron ore in Oct’18, up 43% M-o-M as against 1,636,899 MT in Sept’18.

Scrap exports down 11% during Jan-Oct’18 - Sweden exported 999,982 MT ferrous scrap during the first ten months in CY18, down 11% Y-o-Y as against 1,124,101 MT during the same period last year. During the same period, the top three importers of Swedish scrap Turkey, US and Norway observed fall in imports by 7%, 24% and 8% on a yearly basis.

Crude steel production declined 16% M-o-M in Nov’18 - According to World Steel Association, Sweden’s crude steel production recorded at 0.314 MnT in Nov’18, down 16% M-o-M as against 0.375 MnT in Oct’18. The country produced 4.05 MnT crude steel during Jan-Nov'18, marginally down 6% as against 4.32 MnT during the same period last year.