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Apr.19.2024 1USD=7.102RMB
  SteelHome >>Raw Material>>Market Info>>International Dynamics
 
Germany: Scrap’s Cyclonic Trajectories Unveiled

https://en.steelhome.com [SteelHome] 2024-04-02 18:41:01

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Synopsis:
German scrap companies experienced a slight decline in their overall scrap exports in 2023, while imports saw a more significant drop compared to the previous year, reflecting the dynamic nature of the country's scrap trade.

Article:
In 2023, German scrap companies reduced their scrap exports by 1.5% compared to 2022, totaling 7.8 million metric tons. This decline followed a 9.9% decrease in exports during 2022, after a 1.9% increase in 2021, according to calculations based on Eurostat data.

The breakdown of exports revealed that shipments of scrap to third countries (non-EU nations) in 2023 increased by 9.2% compared to 2022, reaching 1.44 million metric tons. However, scrap shipments within the European Union amounted to 6.4 million metric tons, a 3.6% year-on-year decrease.

The main export destinations for German scrap were the Netherlands, Turkey, and India. Over the past year, 1.64 million metric tons of scrap were shipped to the Netherlands (-0.9% year-on-year), 699,300 metric tons to Turkey (+11.9% year-on-year), and 415,320 metric tons to India (+109.3% year-on-year).

On the import side, Germany's scrap imports in 2023 totaled 3.48 million metric tons, a significant 21% decrease compared to 2022. Supplies of scrap from third countries amounted to 334,200 metric tons (-25.7% year-on-year), while imports from the EU stood at 3.14 million metric tons (-20.5% year-on-year).

The key suppliers of scrap to Germany last year were the Czech Republic, with 853,810 metric tons (+5% year-on-year), the Netherlands, with 813,100 metric tons (-29.6% year-on-year), and Poland, with 510,410 metric tons (-21.6% year-on-year).

It is worth noting that in 2022, Germany's scrap imports had decreased by 11.3% year-on-year, following a 29.6% increase in 2021.

In January 2024, Germany's scrap exports to third countries declined by 5.9% compared to January 2023, reaching 97,600 metric tons. Imports also fell by 10.1% year-on-year, amounting to 21,600 metric tons for the month.

Conclusion:
The data on German scrap companies' exports and imports in 2023 highlights the dynamic nature of the scrap trade, with fluctuations observed in both inbound and outbound shipments. While exports saw a marginal decline of 1.5%, imports experienced a more substantial drop of 21% compared to the previous year. These trends reflect the evolving global demand for scrap, trade dynamics within the European Union, and the impact of factors such as economic conditions and industry trends on the scrap market. As the scrap trade continues to play a crucial role in the circular economy and sustainable resource management, close monitoring of these patterns will be essential for industry stakeholders and policymakers alike.

Source: STEELGURU

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