US Ferrous Scrap Exports Surged 26% in June

SEATTLE (Scrap Monster): The latest trade statistics published by the US Census Bureau and International Trade Commission suggests significant rise in ferrous scrap exports by the country during the month of June this year. The scrap exports in June 2017 totaled 1.299 million tons, significantly higher over the previous month. The exports registered significant jump when matched with same month a year before.

The monthly scrap exports in June touched the highest levels in past ten months. The exports touched teh highest level recorded since August 2016. The exports were up by 18.2% over the previous month. The US ferrous scrap exports had totaled 1.099 million tons in May. When compared with the year-ago period, the exports recorded 25.7% surge in June this year. The country had exported only 1.033 million tons of scrap during June 2016. The value of scrap exports amounted to $395.6 million, increasing marginally by 8.7% over the previous month. Over the previous year, the scrap export value witnessed 16.8% jump.

The largest destination of US scrap export was Turkey. The exports to Turkey totaled 307,000 tons during the month, accounting for nearly 24% of the total exports during the month. The exports to the country skyrocketed by nearly 250% upon comparison with the previous year. The second largest importer of US scrap was Mexico. The imports by Mexico registered 16% year-on-year decline to total 186,000 tons.

The monthly scrap exports had totaled 1.77 million tons in April this year, significantly higher by 27.4% when compared with the year-ago month. The US scrap exports had totaled only 1.39 million tons during April 2016. When matched with the previous month, the exports were up by nearly 30% in April ’17. The scrap shipments by the US to overseas destinations had totaled 2.921 million tonnes during Q1 this year, higher by almost 28% when matched with the total deliveries of 2.289 million tonnes during Q1 ’16.

Meantime, statistics released by the US Department of Commerce (DOC) indicates that US nickel scrap exports declined sharply by 21% from the previous month to total around 1,963 tons in June 2017. The exports had totaled 2,494 tons in May this year.

Canada continued to be the top importer of nickel scrap from the US. The imports by the country declined sharply by 37% over the month to total nearly 1,094 tons. In second place was India with imports of 423.6 tons. The imports by India were up significantly by 23% when matched with the previous month. Sweden imported 112.8 tons, rising by 17.3% from the previous month.