Second Street Iron & Metal
  • Home
  • About
    • Scrap News
    • Service Areas
  • Services
    • For Individual Clients
    • For Businesses
    • Scrapping Cars: FAQ
  • Pricing
    • Ferrous Metals
    • Non-Ferrous Metals
  • Contact

December 21st, 2015

12/21/2015

0 Comments

 
Picture
Major Destination Shift For Scrap Metal Export
Although we continue to see a decrease from the Chinese market, there has been a recent ramp up in steel production by non-Chinese region, shifting the focus of steel scrap exporters to destinations including India, Turkey, and South Asian countries. Unlike China these countries have experienced significant rise in steel production over the past year. And the domestic scrap output is now insufficient to meet the growing steel scrap demand.
India’s steel production has risen 3.3% to 75.1 million tones over the past year, even during the time when global steel output dropped by almost 2.5%. Due to the fall in supply from domestic sources India will likely see a higher import rate of steel scrap and the scrap consumption by the country is projected to double over the next 10 years.
Bangladesh has also seen a dramatic rise over 2015 and is expected to have imports grow at the fastest pace in 2016. Scrap steel imports are expected to total around 3 million tonnes almost 5 times the consumption levels experienced in 2015. Bangladesh holds a favorable import structure which will help boost even more imports of scrap to the country.
On the other hand China’s production of steel dropped by 2.2%, which result in producers having to ship even more abroad after Chinas devalued in currency. The sinking of the yuan may make the nations exports cheaper for overseas buyers.

By:
Jill McVey


0 Comments



Leave a Reply.

    Picture

    Categories

    All
    Metal Markets
    Scraping Tips

    Archives

    February 2023
    January 2023
    December 2022
    November 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    March 2022
    January 2022
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    October 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    December 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    January 2019
    June 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    June 2017
    May 2017
    January 2017
    September 2016
    July 2016
    April 2016
    March 2016
    February 2016
    January 2016
    December 2015
    November 2015
    October 2015


All Rights Reserved to Second Street Iron & Metal Co., Inc. 2017; Web Design M.F.