Exports of Precious Metal Scrap Surged 65%

SEATTLE (Scrap Monster): The U.S. exports of scrap of precious metals totalled $1.91 billion through March this year. This is significantly higher by 64.55% when compared with the exports of $1.16 billion during the corresponding quarterly period in 2019, said the latest statistics published by the U.S. Census Bureau.

The top trade partner during the year was the UK. The exports to the country totalled $538.71 million, accounting for more than 28% of all U.S. shipments. The shipments to the UK increased significantly by 162%, upon comparison with the year before that. The second top export destination was Canada, which received $475.28 million of scrap of precious metals from the U.S. In third place was Germany, which accounted for almost 17% of the total U.S. exports. The exports to that country totalled $323.39 million. The other key importers during Jan-Mar ‘20 were Italy ($239.76 million) and Japan ($194.84 million).

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The above top five export destinations accounted for nearly 93% of the total U.S. shipments of precious metals scrap.

Also, the imports of precious metals scrap have increased by 91.87% during the initial three months of 2020 to $814.74 million from $424.63 million in Mar ‘19. The leading sources of import were Germany ($215.76 million), UK ($160.59 million), Canada ($153.03 million), Mexico ($56.57 million) and Japan ($29.95 million).