NEW YORK U.S. ferrous scrap exports sank 14.9 percent to under 1.32 million tonnes in October from nearly 1.55 million tonnes the previous month as less heavy melt and shredded scrap was shipped abroad amid a drop in demand from Turkey, Taiwan and South Korea.
Exports of No. 1 and No. 2 heavy melting scrap totaled a combined 532,825 tonnes in October, down 15.6 percent from 631,158 tonnes a month earlier, according to the latest U.S. Commerce Department data.
Heavy melt shipments to Turkey fell 34.6 percent to 172,559 tonnes from 263,888 tonnes in September; exports to Taiwan slid 19.3 percent to 111,436 tonnes from 138,102 tonnes; and shipments to South Korea declined 33.8 percent to 83,594 tonnes from 126,184 tonnes, although increases were posted in heavy melt shipments to Egypt (up 37.9 percent to 63,706 tonnes from 46,197 tonnes) and China (up 59.1 percent to 30,152 tonnes from 18,956 tonnes).
Exports of shredded scrap totaled 345,598 tonnes in October, down 26 percent from 467,280 tonnes the previous month. The declines were again led by Turkey (down 33.6 percent to 122,063 tonnes from 183,848 tonnes), South Korea (down 26.4 percent to 45,552 tonnes from 61,867 tonnes) and Taiwan (down 44.7 percent to 25,038 tonnes from 45,239 tonnes), partially offset by shipments to India nearly tripling to 18,589 tonnes from 6,575 tonnes.
Ferrous scrap exports totaled nearly 15.67 million tonnes in the first 10 months of 2013, down 14.7 percent from 18.37 million tonnes in the same period last year.
No. 1 and No. 2 heavy melt accounted for the lions share of year-to-date exports at a combined 5.96 million tonnes, down 19.6 percent from 7.41 million tonnes a year earlier, followed by shredded scrap, which fell 16 percent to 4.66 million tonnes from 5.55 million tonnes, and plate and structural (up 8.3 percent to 938,940 tonnes from 866,938 tonnes).