Scrap Monster
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Vulcan
Metal Recycling News March 07, 2019 11:45:12 AM

U.S. Precious Metal Scrap Exports Soared 16%

Paul Ploumis
ScrapMonster Author
The top trade partner during the year was Canada. The exports to Canada totaled $1.08 billion, accounting for more than 25% of all U.S. shipments.

U.S. Precious Metal Scrap Exports Soared 16%

SEATTLE (Scrap Monster): The U.S. exports of scrap of precious metals totaled $4.30 billion in 2018. This is significantly higher by 15.57% when compared with the exports of $3.72 billion during the entire year 2017. The category was ranked in 75th position, as per the latest trade data published by the U.S. Census Bureau.

The top trade partner during the year was Canada. The exports to Canada totaled $1.08 billion, accounting for more than 25% of all U.S. shipments. The shipments to Canada increased marginally by 1.6% in 2018, upon comparison with the year before that. The second top export destination was Germany, which received $945.93 million of scrap of precious metals from the U.S. The exports to Germany were up significantly by nearly 35% over the year and represented 22% market share. In third place was the U.K, which accounted for 18.4% of the total U.S. exports. The exports to the U.K. totaled $791.22 million. The other key importers during the year were Italy ($613.91 million) and Japan ($356.44 million).

The above top five export destinations accounted for more than 88% of the total U.S. shipments of precious metals scrap.

Also, the imports of precious metals scrap have increased marginally by 2.43% during 2018 to $1.89 billion from $1.84 billion in 2017. The leading sources were Germany ($453.24 million), Canada ($388.56 million), the U.K. ($174.04 million), Mexico ($164.61 million), and Singapore ($137.53 million). These top five foreign markets accounted for almost 70% of all the imports of precious metal scrap by the U.S. during the previous year.

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