US scrap exports extend y-o-y decline during Oct '14

ALBANY (Scrap Monster): The scrap exports by the US during the month of October this year continued to drop, as per latest trade data released by the US International Trade Commission. The country’s scrap exports had recorded this year’s lowest levels during the previous month.

As per data, the country’s scrap exports totaled 1.33 million tons during Oct ’14. The exports stood lower by 17.6% when compared with the exports during the same month a year ago. The US scrap exports during October last year had totaled 1.61 million tons.

However, scrap exports by the country increased when compared with the prior month. The scrap exports during Oct ’14 were up 14.66% when compared with the total exports of 1.16 million tons during September this year.

The US scrap exports to Turkey increased during October ’14 in comparison with the exports of 370,000 tons a month before. The scrap exports to Turkey totaled 417,000 tons during the month, thus accounting for nearly one-third of the total US scrap exports during the month.

The second largest export destination of US scrap was Taiwan. The US scrap exports to Taiwan totaled 203,000 tons. The third largest importer of US scrap was South Korea with 156,000 tons.

The cumulative scrap exports during the initial ten months of the year totaled 12.92 million tons, down by 17.6% when compared with the exports made by the country during the corresponding ten-month period in 2013.

The projected scrap exports by the country for the whole year 2014 stands at 15.50 million tons.