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Metal Recycling News July 10, 2018 03:30:27 PM

U.S. Exports of Scrap Iron and Steel Surged 47% Through May

Paul Ploumis
ScrapMonster Author
The primary supplier of scrap iron and steel to the US was Canada, representing more than 61% of all U.S. imports.
U.S. Exports of Scrap Iron and Steel Surged 47% Through May

SEATTLE (Scrap Monster): The scrap iron and steel exports by the U.S. surged 47% during the first five months of 2018. The imports too were up sharply by 22% during this period. This is in accordance with the latest trade statistics published by the U.S. Census Bureau. The exports had recorded 44% year-on-year surge through April this year.

During Jan-May ’18, the U.S exported $2.59 billion worth of scrap iron and steel. This is higher by 46.83% when compared with the corresponding period last year. The U.S. exports of scrap iron and steel during Jan-May ’17 had totaled only $1.77 billion. The exports totaled $577.44 million during the month of May 2018 alone.

The top export market for scrap iron and steel from the U.S. was Turkey. The exports to Turkey totaled $489.17 million, accounting for nearly 19% of the total U.S. exports. The second largest destination was Taiwan with $296.22 million worth of imports from the U.S. The other key export markets were Mexico ($285.95 million), China ($225.97 million) and India ($210.97 million). The exports to the above top five markets totaled $1.508 billion, representing over 58% of total exports during the initial five-month period of 2018.

ALSO READ: U.S. Exports of Aluminum Scap Surged 20%

Meantime, imports of scrap iron and steel too were up significantly by 21.29% to $776.10 million through May this year, when compared with the same period the previous year. The U.S. imports had totaled $639.88 million during Jan-May ’17. It must be noted that the country’s imports had totaled $1.49 billion during the entire year 2017.

The primary supplier of scrap iron and steel to the US was Canada, representing more than 61% of all U.S. imports. The U.S. imported $476.22 million worth scrap iron and steel from Canada. The other major sources were Mexico ($98.28 million), the Netherlands ($88.66 million), the UK ($49.23 million), and Sweden ($33.69 million). Over 96% of total U.S scrap iron and steel imports in Jan-May ’18 was from the above five countries.

 

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