The value of Ukraine’s scrap exports shrank by almost nine times in January–May

Ukraine’s scrap exports value fell by almost nine times in January–May, down to $10 million compared to the first five months of the previous year.

According to customs statistics posted on the website of the State Fiscal Service of Ukraine, the volume of scrap exports decreased by eight times, down to 36.5 thousand tons.

The share of scrap exports in the total volume of Ukraine’s trade amounted to 0.05%.

Turkey was the main importer of Ukrainian scrap, with its share of 88.7%. It was followed by the Netherlands (6.26%) and Germany (3.42%).

Over the first five months, Ukraine reduced scrap imports value by 10.9%, down to $10.7 million. The volume of scrap imports increased by 38.4%, up to 28.7 thousand tons, compared to the same period of the previous year.

Russia was the main exporter of scrap to Ukraine, with its 49% share. It was followed by Turkey (43.7%) and Korea (3.1%).

As reported earlier, scrap collecting is decreasing in 2019 due to the growing supplies to steelmaking companies.

The global scrap market may shrink this year