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Metal Recycling News February 19, 2018 12:30:29 PM

Scrap Iron and Steel Exports by the U.S. Surged 37% in 2017

Paul Ploumis
ScrapMonster Author
The leading market of scrap iron and steel exported from the US was Turkey. The imports by Turkey totaled $1.021 billion, accounting for more than one-fifth of the total US exports.
Scrap Iron and Steel Exports by the U.S. Surged 37% in 2017

SEATTLE (Scrap Monster): The exports of scrap iron and steel by the US registered significant jump during the previous year. According to trade statistics published by the US Census Bureau, the country’s exports surged higher by 37% during the year. Meantime, the imports of scrap iron and steel too have increased considerably by 57% in 2017.

The US exports of scrap iron and steel totaled $4.92 billion in 2017. This is higher by nearly 37% when matched with the exports during the prior year. The country’s exports had totaled only $3.6 billion in 2016. Among various export commodity groupings, the category was ranked 57.

The leading market of scrap iron and steel exported from the US was Turkey. The imports by Turkey totaled $1.021 billion, accounting for more than one-fifth of the total US exports. The Turkish imports surged higher significantly by 48.5%, upon comparison with 2016. The second largest export market was China, with imports from the US totaling $804.2 million. The country accounted for over 16% market share of US export. Taiwan ($463.5 million), Mexico ($413 million) and Pakistan ($259.9 million) were the other key export destinations.

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The above five foreign markets received nearly 60% of all scrap iron and steel exported from the US. The combined imports by the above countries totaled $2.96 billion out of the $4.92 billion in 2017.

Meantime, imports of scrap steel and iron too have registered significant increase during the previous year. The imports were up sharply by 57% from $948.67 million in 2016 to almost $1.49 billion in 2017.

The top exporter of scrap iron and steel to the US was Canada. The imports from Canada totaled $967.6 million, accounting for more than 65% of the total imports. The imports from Mexico and the UK totaled $176 million and $161 million respectively. Sweden ($62.8 million) and the Netherlands ($60.6 million) were the other leading exporters. Nearly 77% of imports by the US arrived from the above countries.

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