US exports of stainless steel scrap edged higher in September from a year earlier on continued demand from India, but year-to-date volumes remained lower on reduced volumes to Canada and China.
The US exported 30,414t of stainless steel scrap in September, a 2pc increase from the same month in 2018, according to the US Department of Commerce. India led all destinations at 10,131t, followed by Taiwan at 9,080t, Pakistan at 5,583t, Canada at 2,037t and South Korea at 1,139t.
US year-to-date stainless scrap exports totaled 322,107t, down by 33pc from the same period in 2018.
US stainless scrap exports to India have surged by 72pc to 102,646t in the first nine months of 2019 in response to higher demand for 316 scrap.
Year-to-date exports to Taiwan have also increased by 46pc to 99,542t as export prices have held a premium to domestic delivered processor prices for 304 scrap solids. The Argus daily 304 scrap solids delivered processor assessment has averaged 49¢/lb in 2019, compared to the average cif Taiwan assessment at 54¢/lb.
Sustained higher exports to India and Taiwan have not offset sharp declines in US shipments to Canada and China.
Year-to-date exports to Canada have fallen by 80pc to 40,578t from the prior year and are on pace for the lowest yearly total since 2015.
China's crackdown on scrap imports this year has led to a 97pc year-to-date drop to 1,310t in US exports to the country. China was the fifth biggest export destination for US stainless scrap in 2018 and was the top trading partner as recently as 2015 when it received 151,966t.
US imports of stainless steel scrap totaled 17,767t in September, a decrease of 26pc from the same period last year. Canada accounted for 10,459t of US intake followed by Mexico at 7,069t.
Year-to-date imports fell by 44pc to 156,159t from a year earlier.
