US Scrap exports jump 26% month-on-month in August '14

ALBANY (Scrap Monster): The scrap exports by the US during the month of August this year declined slightly, according to the latest trade data released by the US International Trade Commission.

As per data, the country’s scrap exports totaled 1.57 million tons during the month. The exports stood lower by 6.7% when compared with the exports during the same month a year ago. The US scrap exports during August ’13 had totaled 1.68 million tons.

However, the scrap exports by the country surged month-on-month. The scrap exports during August ’14 were up 26.3% when compared with the total exports of 1.25 million tons during July this year.

The US scrap exports to Turkey increased during August ’14 in comparison with the exports of 302,469 tons a month before. The scrap exports to Turkey totaled 321,000 tons during the month, thus accounting for nearly one-fifth of the total US scrap exports during the month.

The second largest export destination of US scrap was South Korea. The US scrap exports to South Korea totaled 277,000 tons. The third largest importer of US scrap was Taiwan with 201,000 tons.

The cumulative scrap exports during the initial eight months of the year totaled 10.42 million tons, down by 18.7% when compared with the exports made by the country during the corresponding eight-month period in 2013.

The projected scrap exports by the country for the whole year 2014 stands at 15.63 million tons.