US stainless scrap exports, imports drop in July

US stainless steel scrap exports fell in July by 68pc to 29,848t from a year ago amid a decline in volumes to Canada.

US stainless steel scrap exports were up by 7pc from June, according to the latest data from the US Department of Commerce. For the first seven months of the year, exports fell to 260,992t, down by 38pc from a year earlier.

Exports to Canada were down by 97pc from a year earlier to 2,021t. For the year so far, exports to Canada totaled 36,554t, down by 81pc from the year prior.

With exports to Canada excluded, exports fell by 16pc from a year ago.

Exports to Taiwan fell by 14pc to 7,528t, but are still up by 54pc for the first seven months of 2019 at 81,738t.

The Argus assessment for Taiwan stainless steel 304 scrap averaged 52.13¢/lb cif in July and 53.75¢/lb cif Taiwan during the first seven months of the year, making exports more attractive to US processors. US stainless steel 304 scrap averaged 48.19¢/lb delivered processor in July and 49.32¢/lb over the first seven months of the year.

Stainless steel scrap exports to India continued to climb, rising by 31pc in July from a year ago to 12,223t. Year-to-date exports to India have risen by 76pc from the prior year period at 78,634t.

US imports of stainless steel scrap fell to the lowest levels since November 2015 at 13,759t. Imports were down by 49pc from a year earlier. For the year, imports are down by 48pc to 119,202t.

Stainless steel scrap imports from Canada fell by 49pc from a year earlier at 6,800t, while imports from Mexico fell by 44pc to 6,644t.