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Metal Recycling News July 09, 2014 02:30:34 AM

US Scrap exports plunged 28% in May '14, says government data

Paul Ploumis
ScrapMonster Author
The scrap exports by the US during the month of May this year declined considerably, according to the latest released government data

US Scrap exports plunged 28% in May '14, says government data

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

As per data, the country’s scrap exports totaled 1.55 million tons during the month. The exports were down 27.7% 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 Turkey and South Korea.

However, the scrap exports by the country grew month-on-month. The scrap exports during May ’14 jumped 16% when compared with the total exports of 1.34 million during April this year.

The US scrap exports to Turkey fell 37% during May ’14 in comparison with the exports during the same month a year ago. The scrap exports to Turkey totaled 441,000 tons in May ’14, accounting for more than one-fourth of the total US scrap exports during the month.

A similar dip was seen in the exports to South Korea. The US scrap exports to South Korea decreased 24.2% during the month to touch 9,000 tons. This is in comparison with the exports during the same month a year ago.

Turkey remained the largest export destination of US scrap during the initial five months of the year. The exports to Turkey during January to May this year totaled 1.47 million tons. In second place was Taiwan with 1.25 million tons, followed by South Korea with 78,100 tons.

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