In the first eleven months of 2016 bulk scrap exports were 11,428,000 tonnes, down by 2.8% from the first 11 months of 2015. The tonnages shown in Figure 1 are based on three month moving averages for 2016 and on the annual monthly average for previous years.
The graph shows that exports declined for four consecutive years, 2012 through 2015 continuing through the 1st Q of 2016 and have picked up since then. Exports in the single month of November were 1,123,000 tonnes with Turkey taking the most volume with 286,000 tonnes. There has only been one month since March 2015 in which Turkey wasn’t the major destination.
US scrap exports to the major Far Eastern buyers YTD were down by 6.2% year over year as the depreciated Yen allows Japan to pick up share in that region. Exports to Canada were up by 6.2% YTD and up by 18.9% to Mexico. Countries exceeding a million tonnes YTD were India, (1.07m), Mexico, (1.36m), Taiwan, (1.2m), and Turkey, (2.86m). South Korea fell out of this club in 2016 and is down by 27.5% YTD.
Scrap export prices are reported by the AMM every week for an 80:20 mix of #1 and #2 heavy melt in US $ per tonne FOB New York and Los Angeles for bulk tonnage sales. In the 3 months December 5th through January 4th the East coast price was up by $81.50 to $278 and the West coast was up by $62 to $265.