Scrap Iron and Steel Exports Soared 19%

SEATTLE (Scrap Monster): The latest trade statistics published by the U.S. Census Bureau recorded nearly 19% surge in U.S. scrap iron and steel during the first two months of the current year. The exports during this period were up from $984.53 million in Jan-Feb ’19 to $812.77 million this year. The monthly exports totalled $418.10 million by value in February 2020.

The primary export destination of scrap iron and steel from the U.S. was Turkey. The exports to that country totalled $154.33 million by value, accounting for almost 19% of all U.S. shipments. The second largest destination was Taiwan, which imported $86.5 million worth of the material from the U.S. In third place was India with imports of $83.97 million. The other key export destinations were Mexico ($79.71 million) and Malaysia ($59.05 million).

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The above top five foreign markets received over 57% of total scrap iron, steel exports from the U.S.

Meantime, the imports of the material by the U.S. recorded sharp year-on-year decline by approximately 21% to $217.01 million in Jan-Feb ‘20. The imports had totalled $274.66 million in the corresponding two-month period in 2019. The key sources of import were Canada ($146.79 million), Mexico ($30.66 million), Sweden ($18.41 million), the Netherlands ($11.68 million) and the UK ($7.10 million).