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Metal Recycling News January 14, 2020 03:30:49 PM

Precious Metal Scrap Exports Soared by 20%

Paul Ploumis
ScrapMonster Author
Also, the imports of precious metals scrap registered significant surge by 27.74% during the initial eleven months of 2019.

Precious Metal Scrap Exports Soared by 20%

SEATTLE (Scrap Monster): The U.S. exports of scrap of precious metals totalled $4.84 billion through November 2019. This is significantly higher by more than 20% when compared with the exports of $4.02 billion during the corresponding eleven-month period in 2018, said latest U.S. Census Bureau data.

The top trade partner during this period was Canada. The exports to Canada totalled $1.45 billion, accounting for more than 30% of all U.S. shipments. The shipments to Canada increased significantly by nearly 45%. The second and third top export destinations were the UK ($1.01 billion) and Germany ($718.87 million). The other key importers during Jan-Nov ’19 were Italy ($710.98 million) and Japan ($473.54 million). The combined imports by the above five countries accounted for more than 90% of the total U.S. exports.

ALSO READ: U.S. Gold Exports Declined 19%

Also, the imports of precious metals scrap registered significant surge by 27.74% during the initial eleven months of 2019. The imports rose to $2.19 billion, as compared with $1.72 billion in Jan-Nov ‘18. The leading sources of import were Germany ($647.26 million), Canada ($360.12 million), the U.K. ($299.68 million), Mexico ($152.83 million), and Japan ($113.03 million). The imports were valued at $220.67 million for the month of November 2019.

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