Little Change in U.S. Share of Global Scrap Trade

The United States’ share of the global steel scrap trade has changed little in the two and a half years through second-quarter 2017. Steel Market Update performs this analysis quarterly to understand the gyrations of the domestic scrap market and where the U.S. stands as a global player. This data is not very current because some nations are slow to report, but we still believe it gives a valuable perspective on global trends and is the foundation of where we are today.

To set the scene, Figure 1 shows total scrap exports from the U.S. as reported by the Department of Commerce on the right axis together with the major destinations reported on the left axis. It shows the monthly average for the years 2004 through 2016 and the three-month moving average for January through July 2017. Year to date through July, U.S. scrap exports are up by 19.7 percent from the same period in 2016. The increase compared to 2015 is similar, and 2017 is approaching the rate for 2014. Exports are well down from the rate experienced in the years 2008 through 2013.