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Metal Recycling News May 14, 2019 03:30:49 PM

Exports of Precious Metal Scrap Eased in Jan-Mar '19

Paul Ploumis
ScrapMonster Author
The US imports of scrap of precious metals declined by 7.23% through March this year to $424.63 million.

Exports of Precious Metal Scrap Eased in Jan-Mar '19

SEATTLE (Scrap Monster):  The recent trade statistics published by the US Census Bureau suggests marginal decline in exports of precious metal scrap by the country during the first three months of 2019. The imports recorded sharper decline during this period.

The exports totaled $1.16 billion through March this year. This is marginally down by 1.68% when matched with the exports of $1.18 billion during the corresponding three-month period last year. It must be noted that exports of precious metal scrap had totaled $4.30 billion during the entire year 2018.

The top five foreign markets for US exports were Canada, United Kingdom, Italy, Germany and Japan. These five countries received almost 89% of the precious metal scrap shipments out of the US. The imports by Canada totaled $365.42 million, accounting for more than 31% all US exports. The imports by the country surged higher by almost 60% over the previous year. Imports by the UK were down by nearly 14% to total $205.43 million. Meantime Italian imports surged higher by almost 20% year-on-year to total $182.61 million. Germany and Japan imported $165.31 million and $113.92 million worth of precious metal scrap during the initial three-month period in 2019.

The US imports of scrap of precious metals declined by 7.23% through March this year to $424.63 million. The key suppliers were Germany, Canada and the UK which together accounted for nearly 57% of total imports by the US.

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