Argentina’s ferrous scrap imports trended down in January-May falling by 9pc to 736,537mt from 812,990mt in the same period last year, according to Argentine Customs data.
Still, the decline was lower than January-April when ferrous scrap imports dropped by 44pc compared to 2020.
Ferrous scrap imports in May, however, soared by 1909pc to 282,247mt from 14,199mt in May last year. Imports grew over a monthly basis too, rising by 49pc from 192,069mt in April.
In May, Paraguay was the biggest exporter of ferrous scrap to Argentina at 216,000mt followed by Brazil at 27,000mt, Germany at 24,228mt, and Mexico at 18,019mt. The US, which did not export any material to Argentina in May, was the sole exporter to the South American nation in the same month last year.