According to the US Geological Survey, on a daily average basis in May 2010, estimated consumption of iron and steel scrap was down 4%, net receipts of purchased scrap were down 5% and home scrap production was down 5% from that of April 2010. Stocks of purchased and home scrap at the end of May were up slightly from those at the end of April 2010. These observations are based upon responses from about 26% of the companies surveyed that manufacture pig iron and semi finished steel products which represent about 35% of the total scrap consumption in those sectors and estimates for non respondents to this survey.

On a daily average basis, pig iron production and consumption in May were up 100% and down slightly respectively, from those in April 2010. Stocks of pig iron at the end of May were up 16% from those at the end of April 2010.

Exports of iron and steel scrap for the month of April 2010 increased 21% from those of March 2010. Turkey was the leading country of destination, accounting for 30% of the total tonnage of exports, followed by the Republic of Korea with 18% and Taiwan with 10%. Los Angeles CA was the leading US Customs district for tonnage of exports accounting for 20% of the total followed by New York with 17% and Seattle WA with 9%.

Imports of iron and steel scrap for April 2010 increased 24% from those of March. Canada was the leading country of origin, accounting for 45% of the total tonnage of imports, followed by the United Kingdom with 18% and Germany with 14%. New Orleans, LA was the leading US Customs district for tonnage of imports accounting for 25% of the total followed by Detroit MI with 16% and Seattle WA with 14%.

The daily average domestic raw steel production for May, as calculated from the American Iron and Steel Institute's monthly production data amounted to 166,000 tonnes down 28% from that in April 2010 and up 25% from 133,000 tonnes in May 2009. The electric furnace portion of raw steel production for May was 61% up from 59% in April 2010 and down from 67% in May 2009.

Raw steel production capability utilization in May was 75% up from 74% in April 2010 and up from 43% in May 2009. Continuous cast steel production in May accounted for 98% of total raw steel production up from 97% in April 2010 and the same as that in May 2009.

(Sourced from USGS)