US Scrap exports declined 12% over the year in June '14

ALBANY (Scrap Monster): The scrap exports by the US during the month of June this year declined considerably, according to the latest released government data.

As per data, the country’s scrap exports totaled 1.272 million tons during the month. The exports were down 12% when compared with the exports during the same month a year ago. The sharp decline in exports during the month was mainly on the back of reduced exports to key markets including Turkey and Taiwan.

Also, the scrap exports by the country declined month-on-month. The scrap exports during June ’14 tumbled 18% when compared with the total exports of 1.55 million tons during May this year.

The US scrap exports to Turkey fell 20% during June ’14 in comparison with the exports during the same month a year ago. The scrap exports to Turkey totaled 304,000 tons during the month, thus accounting for nearly one-fourth of the total US scrap exports during the month.

A similar dip was seen in the exports to Taiwan. The US scrap exports to Taiwan decreased 23.1% during the month to touch 206,000 tons. This is in comparison with the exports during the same month a year ago.

However, the exports to India surged by nearly 95% to 119,000 tons during May ’14.

The cumulative scrap exports during the initial six months of the year totaled 7.595 million tons, down 23.6% when compared with those during the corresponding period last year.

The projected scrap exports by the country for the whole year 2014 stands at 15.19 million tons.