U.S. Scrap Iron and Steel Exports Declined 11%

SEATTLE (Scrap Monster): The latest U.S. Census Bureau data points to 10.69% decline in exports of scrap iron and steel by the country during the initial seven-month period in 2019. This is when compared with the exports during the corresponding period last year. The exports totalled $13.6 billion in Jan-July ’19.

The largest export destination was Turkey, which received $600 million worth of scrap from the U.S. More than 19% of total U.S. exports were to Turkey. The exports to Turkey dropped by nearly 10% when compared with the previous year. In second place was Taiwan with a market share of nearly 12%, accounting for $367.42 million worth of U.S. scrap iron and steel exports until July this year. India imported $299.35 million. The other key importers were South Korea ($232.5 million) and Vietnam ($210.86 million).

The above five foreign markets together imported $1.7 billion of the $13.6 billion, representing nearly 54% of the total U.S. exports.

The imports of scrap iron and steel by the U.S. too registered significant decline by almost 25% to total $842.44 million. The top five suppliers were Canada ($559.56 million), Mexico ($130.97 million), Sweden ($63.84 million), the Netherlands ($39.53 million) and the UK ($20.29 million). These U.S. imports of scrap iron and steel from the above five countries totalled $814.18 million, thereby accounting for approximately 97% of the total U.S. imports until July ’19.