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Metal Recycling News March 08, 2019 05:30:53 PM

U.S. Exports of Scrap Iron and Steel Surged 20%

Paul Ploumis
ScrapMonster Author
During the entire year 2018, the U.S exports of scrap iron and steel totaled $5.91 billion.

U.S. Exports of Scrap Iron and Steel Surged 20%

SEATTLE (Scrap Monster): The scrap iron and steel exports by the U.S. surged over 20% during the previous year. The imports too were up sharply by nearly 22% during 2018, says the latest trade statistics published by the U.S. Census Bureau.

During the entire year 2018, the U.S exports of scrap iron and steel totaled $5.91 billion. This is higher by 20.24% when compared with 2017. The U.S. exports of scrap iron and steel during 2017 totaled only $4.92 billion.

The top export market for scrap iron and steel from the U.S. was Turkey. The exports to Turkey totaled $1.09 billion, accounting for nearly 18.37% of the total U.S. exports. The Turkish imports were up by 6.39% over the previous year. The second largest destination was Taiwan with $718.23 million worth of imports from the U.S. In third place was Mexico with $551.93 million. The other key export destinations during 2018 were India ($422.17 million), Vietnam ($335.11 million) and South Korea ($312.3 million). Incidentally, China was pushed to eighth spot with volumes registering drastic decline, due to tough import restrictions imposed by the country’s administration.

Meantime, imports of scrap iron and steel too were up significantly by 21.62% to $1.81 billion in 2018. The U.S. imports had totaled only around $1.49 billion during 2017. The primary supplier of scrap iron and steel to the US was Canada, with supplies totaling $1.19 billion. The supplies from that country represented nearly 66% of all U.S. imports. The other major sources of import were Mexico ($245.15 million) and the Netherlands ($129.15 million).

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