NEW YORK U.S. ferrous scrap exports rose in April after logging three consecutive months of year-on-year declines, driven by demand from Turkey.
U.S. exporters shipped 1.34 million tonnes of ferrous scrap for the month, up 36.6 percent from just under 1 million tonnes in the same month last year, data from the U.S. Commerce Department show.
Exports to Turkey increased more than fivefoldto 322,888 tonnes from 50,451 tonnesin the same comparison.
Offshore sales to Taiwan, South Korea and Mexico were the other bright spots in a month littered with weaker year-on-year shipments to other major buyers of U.S. ferrous scrap, rising 17.7 percent, 35.4 percent and 74.7 percent, respectively, from April 2013.
No. 1 heavy melt exports jumped 94.3 percent year on year in April as Turkish intake from U.S. suppliers surged more than fourfold to 149,034 tonnes.
Shredded purchases rose to a lesser degree, gaining 26.1 percent in the same comparison.
On a sequential basis, however, April volumes were up a mere 0.7 percent as a more than doubling in Chinas intake helped offset a 10.2-percent decline in Turkish purchases vs. March.
No. 1 heavy melt exports rose 26.2 percent month on month as a 16.2-percent increase in purchases from Taiwan offset a 1-percent decline in Turkish buys. But shredded deliveries fell 20.2 percent vs. March as Turkish demand declined 32.2 percent.
Overall ferrous scrap exports for the first four months of the year fell 25.2 percent from the same year-ago period as Turkey reduced its purchases by 38.8 percent.