China’s ferrous scrap imports increased by 1,499pc to 45,564mt in March compared to 2,849mt in the same month last year, according to the country’s Customs data. 

 

The country continues to increase its imports consistently as this month’s numbers were 690pc higher from 5,765mt shipped into China last month.

 

Japanese ferrous scrap exports to China were the highest rising 2,174pc in March to 24,486mt from 1,077mt in the previous year. The country imported 737pc more from Japan in March compared to 2,925mt last month.

 

Malaysia and Hongkong have emerged as new ferrous scrap exporters to China from zero shipments last year. Malaysia exported 11,140mt in March this year, while Hong Kong exported 2,275mt during the same period. On a monthly basis, Malaysia exported 9,033pc more compared to 122mt in February, whereas Hong Kong’s shipments grew by 1,693pc from 127mt in the prior month. 

 

Chinese ferrous scrap imports from South Korea increased by 294pc to 6,290mt in March 2021 from 1,595mt in the previous year. The country imported 178pc more this month compared to 2,263mt in February 2021. 

 

In the first quarter of 2021 ferrous scrap imports to China stand at 55,389mt compared to 3,366mt during the same quarter last year. Monthly trends show a steady increase in imports from the same corresponding periods last year with imports in January, February, and March 2021 rising by 1,162pc, 2,852pc, and 1,499pc, respectively, from the same months in 2020.

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