U.S. Exports of Scrap Iron and Steel Surged 22%

SEATTLE (Scrap Monster): The U.S. exports of scrap iron and steel surged nearly 22% through November in 2018. The imports too were up sharply by almost 22% during Jan-Nov ’18, upon comparison with the corresponding eleven-month period in 2017. This is in accordance with the recent trade statistics published by the U.S. Census Bureau.

The U.S. exported $5.48 billion worth of exports of scrap iron and steel through November last year. The exports were up by 22.04% when compared with the corresponding period in 2017. The U.S. exports of scrap iron and steel during Jan-Nov ’17 had totaled only $4.49 billion. For the month of November 2018 alone, the exports totaled $424.83 million.

The key export destination of scrap iron and steel from the U.S was Turkey. The exports to that country were valued at $1.03 billion, accounting for 18.76% of all shipments by the U.S. The exports to Turkey witnessed 12.85% jump over the previous year. The second largest destination was Taiwan with $646.65 million worth of imports from the U.S. The other key importers of scrap iron and steel from the country were Mexico ($529.15 million), India ($394.66 million) and China ($322.47 million).

Meantime, imports of scrap iron and steel too were up significantly by 21.66% to $1.66 billion through November 2018. The U.S. imports had totaled around $1.36 billion during Jan-Nov ’17. The key exporter of scrap iron and steel to the US was Canada, whose supplies totaled $1.09 billion. The Canadian supplies accounted for more than 65% of all U.S. imports. The other major sources of import were Mexico ($224.45 million) and the Netherlands ($119.28 million).