U.S. Census Bureau Posts 10% Dip in Copper Scrap Exports

SEATTLE (Scrap Monster): The exports of copper waste and scrap by the U.S. experienced sharp decline during the initial seven months of the current year, says latest trade data published by the U.S. Census Bureau.

The country exported $1.7 billion million worth of scrap copper during this period, down by 10.36% when compared with the exports of $1.9 billion during Jan-July ’19. The exports totaled $232.99 million for the month of July ’19 alone. The primary export destination of copper waste and scrap from the U.S. was China. The import controls implemented by the Chinese administration have resulted in almost 67% decline in exports to that country. China accounted for just over 18% of all shipments of copper scrap by the U.S. in Jan-July ’19. The second largest importer was Malaysia, whose imports from the U.S. were valued at $238.36 million, registering nearly 178% jump year-on-year. With 10.76% market share, Canada emerged as the third favorite destination of U.S exports. The U.S. copper scrap exports top Canada totaled $183.03 million.

Meantime, the data through July this year suggests nearly 16% decline in U.S. imports of copper waste and scrap. The country imported $403.05 million worth of material, as compared with the imports of $482.13 million in the corresponding seven-month period in 2018. The top five sources of import were Canada ($238.41 million), Mexico ($121.93 million), Chile ($7.08 million), Dominican Republic ($5.75 million) and Colombia ($3.81 million). Almost 94% of all copper scrap imports to the U.S. were from the above five countries. The combined imports from these countries totaled $376.98 million.