U.S. Nickel Scrap Exports Till May Surged 34%
Metal Recycling News | 2018-07-12 23:26:35
The key destination market for U.S. nickel scrap exports was Canada. The country received more than 80% of all U.S. exports during the five-month period.
By Paul Ploumis
SEATTLE (Scrap Monster): The most recent statistics published by the U.S. Census Bureau indicates significant jump in exports of nickel waste and scrap by the country during the initial five months of the current year. The imports too shot up substantially higher, when compared with the corresponding five-month period in 2017.
Through May 2018, the U.S. nickel scrap exports totaled $66.73 million. This is significantly higher by 34.12% when compared with the year-ago period. The exports had totaled only $49.75 million during Jan-May ’17. At the current rate, the yearly exports in 2018 are projected to surpass the 2017 exports total of $121.13 million.
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The key destination market for U.S. nickel scrap exports was Canada. The country received more than 80% of all U.S. exports during the five-month period. The imports by Canada surged higher significantly by almost 46% over the previous year to total $53.61 million. The exports to Japan skyrocketed by 88% to $4.08 million. In third place was the UK with imports totaling $3.56 million. The other major importers of nickel scrap from the U.S. were Sweden ($1.64 million) and the Netherlands ($1.2 million).
Meantime, the U.S. imports of nickel waste and scrap too soared higher by 70.59% year-on-year during the five-month period. The imports totaled $133.47 million as compared with $78.24 million during the previous year. The imports had amounted to $214.25 million during the entire year 2017.
The top five markets for U.S. imports were the UK, Russia, Canada, Germany and China. Nearly 67% of all nickel waste and scrap imported by the U.S. during Jan-May ’18 were shipped from these five markets. The imports from the above countries totaled $88.47 million.
The imports from the UK skyrocketed by almost 140% over the year to total $33.72 million, whereas those from Russia amounted to $19.75 million. Canada-the third largest supplier reported nearly 24% year-on-year jump in supplies. The imports from Germany and China totaled $11.90 million and $10.18 million respectively.
