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Scrap Prices August 13, 2019 08:30:16 AM

Precious Metals Scrap Exports in Decline During H1 2019

Paul Ploumis
ScrapMonster Author
The U.S. imports of scrap of precious metal increased by 13.01% through June this year to $1.04 billion.

Precious Metals Scrap Exports in Decline During H1 2019

SEATTLE (Scrap Monster): The latest U.S. Census Bureau data shows that the exports of scrap of precious metals recorded marginal decline by the country during the initial six-month period of 2019. On the contrary, the country’s imports of precious metals scrap surged higher, upon comparison with the previous year.

The exports totaled $2.22 billion in Jan-June ’19, down marginally by 1.66% from $2.26 billion in the corresponding period in 2018. The top trade partners were Canada, the UK, Italy, Germany and Japan. The combined exports to these top five destinations totaled around $2 billion, accounting for more than 90% of all U.S. shipments.

The top export destination was Canada, which imported $711.57 million worth of precious metals scrap. The exports to the UK and Italy totaled $374.11 million and $347.16 million. The other largest importers were Germany and Japan with import volumes of $316.25 million and $252.64 million respectively.

ALSO READ: U.S. Nickel Scrap Exports Slipped 22% Until June

The U.S. imports of scrap of precious metal increased by 13.01% through June this year to $1.04 billion. It must be noted that the imports had totaled $922.18 million from January to June in 2018.

The leading source of import was Germany, which supplied $257.53 million worth of the material from the U.S. In second and third place were Canada and the UK which supplied materials worth $179.37 million and $142.69 million respectively. The other major sources of import were Mexico ($74.23 million) and Japan ($57.2 million).

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