Canada: Ferrous Scrap Exports Down 22% in Nov'18
Canada - world’s one of the major scrap exporters witnessed considerable fall in scrap exports in Nov'18 majorly on the lowered purchases from Turkey and major Asian importers like Taiwan, Vietnam and India.
As per recent customs data, Canada exported 343,724 MT ferrous scrap in Nov’18, down 22% M-o-M against 439,558 MT ferrous scrap exports recorded in Oct’18.
On yearly premises, Canadian scrap exports climbed up marginally by 7% Y-o-Y as against 320,569 MT ferrous scrap recorded in Nov’17.
US remained the largest scrap importer in Nov'18 - US remained the largest importer occupying highest 87% share in total scrap exports in Nov’18. US imported 299,365 MT ferrous scrap in Nov’18 down 3% M-o-M witnessing second successively fall since Sept’18.
Turkish scrap imports from Canada fell to nil volumes in Nov’18 against 52,500 MT scrap imports recorded in Oct’18. Followed by other major importers from Asian countries like Taiwan (13,703 MT, -30% M-o-M), India (7,614 MT, -38% M-o-M), Vietnam (7,066 MT, -46% M-o-M) and Bangladesh (6,112 MT, +52% M-o-M).
While Mexico and Brazil observed no considerable volume of imports from Canada for a third consecutive month.
According to World Steel Association, country’s crude steel production recorded at 1.13 MnT in Nov’18, down 3% M-o-M. On the other hand, the country also observed fall of 21% M-o-M in Iron ore exports recording it to 4.01 MnT in Nov’18 against 5.10 MnT in Oct’18. Seasonality concerns and slowdown in activities towards year-end could have resulted in dropped scrap exports in Nov’18.
Scrap exports increase 21% Y-o-Y during Jan-Nov’18 - On increased scrap bookings from steelmakers in Turkey and Taiwan as compared to last year, Canadian scrap exports surged 21% Y-o-Y during Jan-Nov'18. The country exported 4.56 MnT ferrous scrap in Jan-Nov'18 as against 3.76 MnT during the same period last year.
US remained the largest importer (3.13 MnT, +12% Y-o-Y) followed by Turkey (0.70 MnT) and Taiwan (0.13 MnT) witnessing significantly increased imports by 60% and 86% Y-o-Y respectively.
Canada produced 11.92 MnT crude steel during Jan-Nov’18, down 4% as compared to 12.48 MnT crude steel produced during the same period last year. Demand for Canadian scrap increased significantly from major importers like Turkey, Brazil, Taiwan and India in CY18.
source: SteelMint
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