Census Bureau: Precious Metal Scrap Exports Surged 58%

SEATTLE (Scrap Monster): The U.S. exports of scrap of precious metals totalled $2.37 billion through April this year. This is significantly higher by 58.25% when compared with the exports of $1.50 billion during the corresponding four-month period in 2019, said the latest statistics published by the U.S. Census Bureau.

The top trade partner during Jan-Apr ‘20 was the UK. The exports to the country totalled $636.37 million, accounting for approximately 27% of all U.S. shipments. The shipments to the UK increased significantly by 150%, upon comparison with the year before that. The second top export destination was Canada, which received $580.58 million of scrap of precious metals from the U.S. In third place was Germany, which accounted for almost 19% of the total U.S. exports. The exports to that country totalled $450.26 million. The other key importers during the four-month period were Italy ($272.17 million) and Japan ($247.63 million).

The above top five export destinations accounted for more than 92% of the total U.S. shipments of precious metals scrap.

Also, the imports of precious metals scrap skyrocketed by 83.09% during the initial four months of 2020 to $1.1 billion from $603.47 million in Jan-Apr ‘19. The leading sources of import were Germany ($337.81 million), UK ($230.11 million), Canada ($168.46 million), Mexico ($84.59 million) and Japan ($54.83 million).

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