U.S. Ferrous Scrap Exports to the EU to Hit Fresh Peak

SEATTLE (Scrap Monster): The volume of U.S. recycled commodity exports to the EU region totalled 937,000 so far this year, significantly higher by 47% over the previous year. The yearly exports in 2021 are expected to surpass the previous record of 1.16 million tonnes during 2018.

Out of these, recycled ferrous exports totalled more than 450,000 tonnes, accounting for almost half of the total exports. The ferrous scrap exports to the EU region surged higher by 79%, in comparison with Jan-Sep ’20. The second largest exported recycled community was recovered paper and fibre, whose export volumes totalled 382,000 tonnes. The other major export categories were copper (85,000 tonnes), aluminum (18,000 tonnes) and plastic (15,000 tonnes).

The top three export destinations among EU countries were Germany, Italy and Belgium. The value of materials imported by Germany amounted to $1.19 billion, followed by Italy and Belgium with $972 million and $403 million respectively.

According to ISRI data, the U.S. imports of recycled commodities from the EU were up by 45% through September this year to 588,000 tonnes. The value of imports surged higher by 26% to $1.2 billion. Also, recycled iron and steel imports accounted for 88% of the total U.S. imports from the EU.

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Courtesy: www.recyclinginternational.com