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South Africa's scrap exports hit record increase in june 2024

According to data provided by the South African Revenue Service (SARS), scrap exports increased by 190.4% annually in june, from 5,145 tons to 14,941 tons. However, compared to May, exports decreased by 37%.

South Africa's scrap exports hit record increase in june 2024

As of january-june 2024, the country's total scrap exports increased by 44.1% from 99,837 tons to 143,909 tons. This increase means that South Africa is strengthening its position in the global scrap market and responding to the increase in scrap demand.

India has the largest share in South Africa's scrap exports. In the first half of 2024, exports to India amounted to 177,709 tons. India's high demand significantly boosted South Africa's scrap exports. India was followed by Pakistan with 45,709 tons. Pakistan stood out as South Africa's second largest scrap importer.

This high increase in South Africa's scrap exports demonstrates its ability to adapt to trends in international trade and changes in market demand. Experts predict that if this trend continues, South Africa's role in the regional and global scrap market will further strengthen.

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SteelRadar Insight - Sayı 1 (Haziran 2024)

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