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But last year’s gain in ferrous scrap exports was not driven by Turkey. In fact, the largest net market gains (by volume) were in Taiwan (+583 kt), Egypt (+401 kt), S. Korea (+359 kt), Indonesia (+345 kt), Vietnam (+342 kt), Malaysia (+296 kt), and Bangladesh (+200 kt), along with gains to India, Mexico, and Brazil.
Fastmarkets AMM reports that scrap prices for most of the major ferrous scrap grades are trending $20 per ton higher this month amid steady to firmer steel sheet prices, challenging transportation conditions, healthy domestic steel production levels, and diminished steel import competition.
The American Iron and Steel Institute reports that total U.S. steel imports declined 11.5 percent in 2018 and finished steel imports decreased 13.1 percent as import tariffs resulted in less competitively priced imports. Among the major overseas steel suppliers to the U.S., imports from Turkey declined 47 percent last year, imports from South Korea fell 26 percent, and imports from China were down 14 percent.