US Scrap export hits record low during Sep '14

ALBANY (Scrap Monster): The scrap exports by the US during the month of September this year fell sharply, according to the latest trade data released by the US International Trade Commission. The exports recorded the lowest levels since January this year.

As per data, the country’s scrap exports totaled 1.16 million tons during the month. The exports stood lower by 24.7% when compared with the exports during the same month a year ago. The US scrap exports during September ’13 had totaled 1.54 million tons.

Also, scrap exports by the country plunged when compared with the prior month. The scrap exports during Sep ’14 were down 26.1% when compared with the total exports of 1.57 million tons during August this year.

The US scrap exports to Turkey increased during September ’14 in comparison with the exports of 321,000 tons a month before. The scrap exports to Turkey totaled 370,000 tons during the month, thus accounting for nearly one-third of the total US scrap exports during the month.

The second largest export destination of US scrap was Taiwan. The US scrap exports to Taiwan totaled 199,000 tons. The third largest importer of US scrap was South Korea with 108,000 tons.

The cumulative scrap exports during the initial nine months of the year totaled 11.58 million tons, down by 19.4% when compared with the exports made by the country during the corresponding nine-month period in 2013.

The projected scrap exports by the country for the whole year 2014 stands at 15.44 million tons.