US Ferrous scrap exports through May '14 plunged 26% over the year

ALBANY (Scrap Monster): The ferrous scrap exports from the US declined sharply during the initial five months of the year.

The ferrous scrap exports from the country totaled 6.32 million metric tons during Jan-May period, sharply lower by 25.8% when compared with the exports during same period the previous year. The weighted average price of ferrous scrap exports during the month averaged at $402 per metric ton, down by 4.1% over the previous year.

Meanwhile, the exports of other scrap materials bounced back.

The scrap plastic exports during May totaled 425.11 million pounds. The volume of plastic scrap exports saw jump of 7% when compared with the exports during April ‘14. The scrap plastic exports in May this year were higher by 27.2% when compared with the exports during the same month a year ago.

The recovered plastic exports were up by 12.7% over the previous year for the period through May. The export volume totaled 1.92 billion pounds through May this year. However, the average price through May was down 3.2% year-on-year to 19.73 cents per pound.

The recovered paper exports through May totaled 8.10 million metric tons, almost 0.2% up when compared with the exports during Jan-May 2013.

The aluminum scrap exports during the initial five months of the year totaled 1.50 billion pounds. The scrap exports declined by 9.8% over the five months in 2013. The price of aluminum scrap exports averaged at 77 cents per pound, down 3.6% year-on-year.