U.S. Precious Metal Scrap Exports Surged Till May

SEATTLE (Scrap Monster): The U.S. exports of scrap of precious metals totalled $2.98 billion through the first five months of 2020. This is significantly higher by 58.34% when compared with the exports of $1.88 billion during the corresponding five-month period in 2019.

The top trade partner during the year was the UK. The exports to that country totalled $804 million. The shipments to the UK increased by 39% during this period, upon comparison with the same period a year ago. The second top export destination was Canada, which received $761.37 million of scrap of precious metals from the U.S. The exports to Canada were up significantly by nearly 48% over the year. In third place was Germany, which accounted for $520.08 million worth of exports from the U.S. The other key importers during the year were Italy ($367.64 million) and Japan ($299.46 million).

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The above top five export destinations accounted for more than 90% of the total U.S. shipments of precious metals scrap.

Also, the imports of precious metals scrap have increased substantially by almost 72% during in Jan-June ’20 to $1.40 billion from $812.13 million a year before. The leading sources were Germany ($413.92 million), the UK ($287.51 million), Canada ($191.80 million), Mexico ($108.62 million) and Japan ($72.72 million).