BIR Releases Global Scrap Trade and Consumption Report

The Bureau of International Recycling (BIR) has released its latest report on global scrap consumption and trade, detailing major market players. The BIR report also indicates an overall decline in the consumption of ferrous scrap in the first half of 2016.

According to the report, the EU-28 region continues to be the top exporter of scrap steel during the first half of 2016. The region's exports amounted to 8.6 million tons during the first six months of this year. Exports rose 15.2% year over year. Turkey was the leading importer of EU scrap metal. Turkey's imports from the EU rose more than 14% year on year to reach 5.01 million tonnes, accounting for nearly 58% of total EU exports. In addition, India's imports jumped nearly 30% year on year to 958,000 tonnes in January-June 2016.

Exports of scrap metal from the United States during the first half of 2016 amounted to 5.901 million tonnes, a significant decrease, by 14.5%, compared to the same period last year. Monthly exports averaged 984,000 tons during the first six months of 2016. The main destinations for US exports were China, Taiwan, Turkey, South Korea and Thailand, many of which significantly reduced their scrap imports during this period.

Turkey was the largest importer of US scrap metal with 1.5 million tonnes, down 24.4% year on year. The country's imports accounted for nearly 25% of the total US scrap metal exports in six months. The second largest export destination for US scrap steel was Taiwan. Exports to the countries amounted to 599,000 tons, down 49.3% over the year. Exports to South Korea and China decreased by 13.6% and 32.8%, respectively. Exports of scrap from the United States to Thailand also fell sharply by 18.4%. On the other hand, US scrap steel exports to Mexico rose 47%. Other countries reporting a significant jump in imports of scrap metal from the United States were Pakistan (+ 45.5%), India (+ 35.7%) and Peru (+ 30.5%), but their volumes are insignificant.

Japan's aggregate scrap metal exports in the first half of the year amounted to 4.775 million tons. At the same time, exports grew by almost 16% compared to the same period in 2015. The country's scrap steel exports to South Korea and Vietnam increased by 10.4% and 71.1%, respectively. On the other hand, during the first six months of 2016, Japanese scrap exports to China and Taiwan declined by 15.7% and 9.6%, respectively.