Ferrous scrap exports from Australia increased by 21pc to 206,116mt in June. In the first six months of 2021, exports rose by 1.59pc to 1.04mn mt.
In 2020, as the world started grappling with COVID-19 pandemic, Australia announced stringent lockdown restrictions like many other countries to curb the virus spread. Most buyer countries also grappled to control the raging pandemic, which weighed down demand for ferrous scrap in export markets. Thus, the rise is exports is a result of a low base.
Vietnam became the topmost overseas buyer for Australian and imported 44,821mt of ferrous scrap in June, up by 44pc from June 2020 and 2pc from the preceding month. Mills from Vietnam opted for Australian material which offered a price advantage over that from the US. Shorter delivery period also made Australia a preferred seller country.
Indonesia followed with 44,666mt, down 4pc from the preceding month, but a surge of 98pc from the prior-year June.
|Country-wise ferrous scrap exports|
|Importers||June 2021||May 2021||Change MoM||June 2020||Change YoY|