Scrap Iron and Steel Exports Posted Modest Decline

SEATTLE (Scrap Monster): The scrap iron and steel exports by the U.S. declined by approximately 5% during the first four months of the current year. The imports too were down sharply by nearly 23% during this period, says the latest trade statistics published by the U.S. Census Bureau.

During Jan-Apr ’20, the U.S exports of scrap iron and steel totalled $1.52 billion. This is down by 4.99% when compared with the corresponding four-month period in 2019. The U.S. exports of scrap iron and steel had totalled $1.52 billion in Jan-Apr ’19.

The top export market for scrap iron and steel from the U.S. was Turkey. The exports to Turkey totalled $327.83 million, accounting for nearly 22% of the total U.S. exports. The Turkish imports were up by nearly 10% over the previous year. The second largest destination was Mexico with $172.5 million worth of imports from the U.S, followed by Taiwan with $169.17 million. The other key export destinations were India ($125.58 million) and Malaysia ($113.84 million).

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Meantime, imports of scrap iron and steel too were down significantly by 22.66% to $405.55 million in Jan-Apr ‘20. The U.S. imports had totalled around $524.35 million a year before. The primary exporter of scrap iron and steel to the US was Canada, with supplies totalling $280.19 million. The supplies from that country represented nearly 69% of all U.S. imports. The other major sources of import were Mexico ($58.74 million) and Sweden ($31.36 million).