U.S. Exported $2.26B of Precious Metal Scrap Until June This Year

SEATTLE (Scrap Monster): The U.S. exports of scrap of precious metals totaled $2.26 billion through the first six months of 2018. This is significantly higher by 37.94% when compared with the exports of $1.64 billion during the corresponding half-yearly period in 2017. The latest trade data published by the U.S. Census Bureau ranks the category in 73^rd position, amongst the various export commodity groupings.

The top trade partner during Jan-June ’18 was Germany. The exports to Germany totaled $550.43 million, accounting for 24.34% of all U.S. shipments. The shipments to Germany skyrocketed by 263% upon comparison with the previous year. The second top export destination was Canada, which received $502.59 million of scrap of precious metals from the U.S. In third place was the U.K, which accounted for 21.08% market share. The exports to the U.K. totaled $476.6 million. The above top three destinations accounted for nearly 67% of the total U.S. shipments.

Also, the imports of precious metals scrap have increased by more than 13% during this period, from $815.43 million to $922.18 million. The leading sources were Germany (224.67 million), Canada ($183.34 million), Singapore ($84.98 million), Mexico ($59.15 million) and the U.K ($53.15 million). These top five foreign markets accounted for almost 66% of all the scrap of precious metal imports to the U.S through June 2018.