Argentina’s ferrous scrap imports increased to 509,316mt in June, up by 79pc from May and by 324pc from a year ago, according to customs data. A ramp up in the production of steel is driving ferrous scrap imports into the country. In June, steel production increased by 2.4pc to 400,300mt from May and by 66pc from a year ago, as per Argentina’s steel association, CAA.
Paraguay was the top scrap exporter with exports of 436,000mt, which has doubled from May as well as a year ago. The second leading exporter was Germany with exports of 47,516mt which was followed by Brazil with exports of 25,800mt.
In H1, Argentina’s ferrous scrap imports totaled to 1.245mn mt, up by 33pc from the prior-year period. While steel production increased by 53.8pc to 2.26mn mt in H1.
| Argentina’s ferrous scrap imports in June | |||||
|---|---|---|---|---|---|
| Exporters | Jun 2021 | May 2021 | MoM | Jun 2020 | YoY |
| Paraguay | 4,36,000 | 2,16,000 | 102% | – | 100% |
| Germany | 47,516 | 24,228 | 96% | 1,02,149 | -53% |
| Brazil | 25,800 | 27,000 | -4% | – | 100% |
No exports were reported from the US and Mexico amid strong domestic fundamentals in these destinations which kept offers high during the month.