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Metal Recycling News October 12, 2018 03:30:07 PM

U.S. Exports of Precious Metal Scrap Tops $3 Billion

Paul Ploumis
ScrapMonster Author
Also, the imports of precious metals scrap recorded 12.24% increase during this period, from $1.14 billion to $1.28 billion.

U.S. Exports of Precious Metal Scrap Tops $3 Billion

SEATTLE (Scrap Monster): The U.S. exports of scrap of precious metals exceeded $3 billion during Jan-Aug ‘18. The exports, at $3.03 billion, are significantly higher by 39.70% when compared with the exports of $2.17 billion during the corresponding eight-month period during the previous year.

The top export destination of precious metal scrap during Jan-Aug ’18 was Canada. The exports to Canada totaled $731.75 million, accounting for 24.18% of all U.S. shipments. The shipments to Canada surged higher by nearly 15% upon comparison with the previous year. The second top export destination was Germany, which received $703.79 million of scrap of precious metals from the U.S. In third place was the U.K, which accounted for 20.87% market share. The exports to the U.K. totaled $631.69 million. The other key importers were Italy ($401.62 million) and Japan ($239.83 million).

The above top five destinations, whose combined import totaled $2.71 billion, accounted for nearly 90% of the total U.S. shipments.

Also, the imports of precious metals scrap recorded 12.24% increase during this period, from $1.14 billion to $1.28 billion. The leading sources were Germany ($322.25 million), Canada ($259.93 million), Mexico ($105.59 million), Singapore ($95.67 million), and the U.K ($83.88 million). These top five foreign markets accounted for almost 68% of all the imports of scrap of precious metal into the U.S through August 2018.

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