Tag: Exports

There have been developments in the ferrous scrap export market in the Atlantic Basin over the past week that point to weakness in the near future.

Apparent supply totaled 8.88 million short tons (st) in July, down 38,000 st from June and 6% higher than the same month last year

Following a 3% decline in June, the amount of steel shipped outside of the US edged up 1% in July to 623,000 short tons. July was the sixth-lowest monthly export rate since the COVID-19 pandemic, and...

The export market is looking for direction based upon the latest scrap purchases from Northern Europe by Turkish steelmakers. The sentiment was looking bearish, but sellers may see it differently.

The US scrap export market has traded sideways or slightly less for about 60 days, with no real firmness in sight.

The amount of finished steel coming into the US market increased 3% from May to June, climbing to one of the highest rates seen in recent years, according to SMU’s analysis of Department of Commerce and American Iron and Steel Institute (AISI) data

The volume of steel shipped outside of the country in June fell 3% from the prior month to 618,000 short tons (st), according to recently released data from the US Department of Commerce.

What the word "sideways" means can depend on where you sit on the procurement spectrum.

The ferrous scrap export market off the US East Coat and Gulf Coast has remained basically sideways over the last month. This mirrors the lack of movement in the US domestic market.

The volume of finished steel entering the US market remained elevated in May, in line with April figures, according to SMU’s analysis of Department of Commerce and American Iron and Steel Institute (AISI) data

US steel exports rose 10% from April to May but remained low compared to recent years. This came just one month after exports fell to the lowest level recorded in nearly five years.

Ferrous scrap export activity has picked up steam.

Hashing out duty costs

Despite high expectations, the export scrap market has not moved up.

The amount of finished steel that entered the US market in April declined 3% from March but remained at elevated levels, according to SMU’s analysis of Department of Commerce and American Iron and Steel Institute (AISI) data.

US steel exports totaled 579,000 short tons (st) in April, according to US Department of Commerce data. That's the lowest monthly volume recorded since July 2020.

One cause of this was increased competitiveness from imports that have put pressure on some domestic producers.

A look at the latest developments in the ferrous scrap export market.

The volume of finished steel entering the US market rebounded in March, according to our analysis of US Department of Commerce and American Iron and Steel Institute (AISI) data.

The volume of steel exported from the US marginally increased from February to March, according to the latest US Department of Commerce figures. Although up month over month (m/m), export levels have generally trended downward over the past year.  

The Mexican government aims to transform Manzanillo into the largest seaport in Latin America, capable of processing some 10 million TEU (20-foot equivalent units) per year by 2030. It is already Mexico's largest port and the third largest in Latin America, handling nearly 4 million 20-foot containers in 2024.

Chinese steel export prices are expected to remain stable or fall in the coming weeks as trade restrictions rise and tensions between the country and the US escalate.

The ferrous scrap export market has been thinly traded thus far in April in the Atlantic Basin.

The amount of finished steel that entered the US market in February receded from January’s peak, according to our analysis of Department of Commerce and American Iron and Steel Institute (AISI) data.

The volume of steel exported from the US declined in February, reversing January’s surge, according to the latest US Department of Commerce figures. This comes just two months after export levels had fallen to a two-year low.

The US ferrous scrap market rise this year is showing signs of slowing down as US steelmakers adjust production in line with slower automotive production and sales. But President Trump's announcement of 25% auto tariffs could change things very fast.

The export situation from the US East Coast was interrupted last week after a political event in Turkey.

The volume of finished steel entering the US market in January climbed to the highest level recorded in two and a half years.

US steel exports recovered to a five-month high in January after having fallen to a two-year low in December. This growth follows four consecutive months of declining exports.

An update on the US scrap export market.