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Metal Recycling News June 13, 2018 11:30:49 AM

Precious Metal Scrap Exports by the U.S. Surged 42%

Paul Ploumis
ScrapMonster Author
The key supplier of precious metal scrap to the U.S was Germany. The imports from Germany surged higher by nearly 17% over the previous year to total $144.98 million during Jan-Apr ’18.
Precious Metal Scrap Exports by the U.S. Surged 42%

SEATTLE (Scrap Monster): The latest U.S. Census Bureau data suggests that exports of precious metal scrap surged higher significantly during the initial four months of 2018. The exports through April 2018 were up by 42% to $1.57 billion, when compared with the exports of $1.1 billion during Jan-Apr ’17. The exports had narrowed by 19% during the entire year 2017.

The top three export markets for U.S. precious metal scrap were Germany, Canada and the U.K. The exports to Germany totaled $446.73 million, accounting for 28.46% of the total U.S. exports. The exports to that country skyrocketed by 402.86% over the previous year. Canada received $328.67 million worth of precious metal scrap from the U.S, marginally higher by 2.36% when matched with the previous year. In third place was the U.K with $311.22 million. The other major export destinations were Italy ($201.83 million) and Japan ($126.12 million). These top five countries accounted for $1.41 billion out of the total exports of $1.57 billion by the U.S during Jan-Apr ’18.

ALSO READ: U.S. Gold Imports Plummet 9% in Jan-Apr '18; Exports Up 11%

Meantime, the U.S. imports of scrap of precious metal too increased by 10% through April 2018. The imports rose from $532.72 million in Jan-Apr ’17 to $587.19 million during the corresponding four-month period in 2018. The U.S. imports had totaled $1.84 billion during the last full year.

The key supplier of precious metal scrap to the U.S was Germany. The imports from Germany surged higher by nearly 17% over the previous year to total $144.98 million during Jan-Apr ’18. The supplies from Canada totaled $117.07 million. In third place was Singapore with $75.38 million. The other major suppliers were Mexico ($35.97 million) and the U.K ($32.62 million). The combined imports from the top five foreign markets amounted to $406.02 million, accounting for almost 70% of the total U.S. imports.

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