Jul 27, 2012 | 06:18 PM
Almost everything you ever wanted to know about container trade
A special report issued by the Bureau of Transportation Statistics (BTS) confirms what U.S. ferrous scrap consumers and export yards have been feeling the ill effects ofor benefitting fromrespectively for the past several years, namely that container vessel calls, capacity, and deadweight tonnage of ships arriving at and departing from Pacific Coast seaports and, increasingly, along the U.S. Atlantic and Gulf Coasts are on the rise.
Although ferrous scrap accounts for only a modest percentage of the goods floated around the globe in container vessels, the once unheard of practice of shipping ferrous scrap via containers off the U.S. Atlantic and Gulf Coast seaports has caught on quickly and, in the process, has begun to wield a significant influence on the prices paid for the steelmaking raw material by domestic steel mills and foundries.
Statistics compiled through November of last year and issued by the U.S. Department of Commerce guarantee 2011 will mark the fourth year in a row that U.S. ferrous scrap exports topped the 20-million-tonne mark. Turkey, which imported 5,152, 100 tonnes of U.S. ferrous scrap through the first eleven months of the year, led the pack followed by China at 4,016,963 tonnes, Taiwan at 3,210, 447 tonnes, and South Korea at 2,807,066 tonnes.....
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