US scrap exports declined in May

ALBANY (Scrap Monster): The scrap exports by the US during the month of May this year continued to decline, according to the latest trade data released by the US International Trade Commission. The scrap exports by the country which had been in a declining trend since the start of the New Year, had rebounded slightly in March, but had again declined in April this year..

As per data, the country’s scrap exports totaled 1.307 million tons during May ‘15. The exports were down by 17.4% when compared with the exports during the same month a year ago. The US scrap exports during May 2014 had totaled 1.582 million tons. When compared with the previous month exports of 1.167 million tons, the scrap exports during May ’15 were up nearly 12%.

The largest export destination of US scrap was Turkey. The US scrap exports to Turkey totaled 350,000 tons in May ‘15. The scrap exports to Turkey accounted for more than 26% of the total scrap exports by the US during the month. The US scrap exports to Turkey during Apr ’15 had totaled 304,000 tons.

The second largest importer of US scrap was Taiwan. The US scrap exports to Taiwan totaled 219,000 tons, dropping significantly by nearly 17% when compared with the exports of 264,000 tons during the previous month. In third place was India with 173,000 tons.

The cumulative scrap exports during the initial five months of the year totaled 5.73 million tons, down by 9.7% when compared with the exports made by the country during the corresponding five-month period in 2014.

The projected scrap exports by the country for the whole year 2015 stands at 13.75 million tons.