U.S. Exports of Copper Scrap Reported Notable Decline

SEATTLE (Scrap Monster): The U.S. exports of copper waste and scrap recorded decline by nearly 16% during the initial seven-month period of the current year to total $1.43 billion, says the latest data published by the U.S. Census Bureau. The exports had totalled $1.70 billion in Jan-July ‘19. The exports by value totalled $235.02 million for the month of July 2020 alone.

In Jan-July ‘20, the top five trade partners were China, Canada, South Korea, Malaysia and Germany. The exports to China totalled $257.07 million, accounting for nearly 18% of the total U.S. exports. The exports to that country dropped significantly by nearly 17% over the previous year. The shipments to Canada declined by approximately 5% to $173.14 million. The copper scrap imports by South Korea surged higher marginally by over 2% year-on-year to total $163.16 million. The exports to Malaysia and Germany totalled $155.61 million and $101.15 million respectively.

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The combined exports to the above five markets totalled $850.14 million, accounting for over 59% of all copper waste and scrap exports from the U.S.

The imports of copper waste and scrap registered substantial decline during Jan-July ‘20. The imports dropped by nearly 40% to total $242.45 million during this period. It must be noted that the imports were valued at $403.05 million during the prior year period. The top exporter of copper waste and scrap to the US was Canada. The imports from Canada totalled $137.57 million.