Scrap Iron and Steel Shipments by the US Recorded 39% Surge

SEATTLE (Scrap Monster): The exports of scrap iron and steel by the US surged higher significantly by 39% during the initial eleven months of the previous year. The US exports totaled $4.49 billion, as compared with $3.22 billion exported during the corresponding eleven-month period in 2016.

The main export destination of scrap iron and steel from the US was Turkey. The other key importers were China, Taiwan, Mexico and India. The exports to these top five market destinations totaled $2.72 billion, accounting for 61% of scrap iron and steel exports from the US through November last year.

More than one-fifth of US scrap iron and steel exports were to Turkey. The Turkish imports through November 2017 totaled $911.6 million, significantly higher by 48% over the previous year. The second largest importer-China increased its imports from the US by nearly 32% year-on-year to total $754 million. In third place was Taiwan with imports of $419 million worth of scrap iron and steel. The other leading importers were Mexico ($398.3 million) and India ($239.7 million).

The top Customs Districts in terms of volume of shipments were Los Angeles, New York City, San Francisco, Boston and Seattle. The combined shipments through them totaled $2.63 billion out of $4.49 billion.

Meantime, imports of scrap iron and steel too witnessed 56% surge year-on-year from $873.16 million in Jan-Oct ’16 to $1.36 billion through November last year. The US imports of scrap iron and steel had totaled only $948.67 during the entire year 2016.

The primary supplier of scrap iron and steel to the US was Canada. The combined imports from that country totaled $893.2 million during Jan-Nov ’17, representing more than 65% of the total US imports. The imports from Mexico and the UK totaled $161.1 million and $131.1 million respectively. The other two leading suppliers of scrap iron and steel to the US were Sweden ($62.8 million) and the Netherlands ($60.6 million). Almost 96% of the total US imports were from these five countries.

Detroit accounted for more than one-third of all scrap iron and steel imports by the US. The other four among the top five Customs districts in terms of value of imports were Buffalo, New Orleans, Seattle and Mobile. The above five customs districts collectively received nearly 77% of all imports by the US during Jan-Nov ’17.