Scrap imports by the UK dropped 13% in Aug '14

CANTERBURY (Scrap Monster): The total scrap imports by the UK during the month of August this year dropped significantly when compared with the same month a year before.

The scrap imports totaled 1.51 million tons during the month. This is 12.5% lower when compared with the imports during August last year. The UK scrap imports had totaled 1.73 million tonnes during August 2013.

The scrap import price averaged at $89.8 per ton during the month, registering decline of over 20% when compared with a year ago.

The cumulative scrap imports by the country during the eight month period from January to August this year totaled 10.01 million tonnes. The imports during the period have dropped by 8.3% when compared with the total imports of 10.92 million tonnes during the corresponding eight-month period in 2013.

Brazil was the primary scrap exporter to the UK during January to August this year. The UK imported 5.25 million tonnes of scrap from Brazil. Figures indicate that imports from Brazil accounted for more than half of the total scrap imports by the UK in the given period.