13 Mar 2014 Last updated at 06:42:58 GMT
WASHINGTON (Scrap Monster): The scrap exports by the United States fell to eight year lows in January this year. The scrap exports from the country totaled 898,000 tons- the lowest levels since 2006. The scrap exports to Turkey and China fell drastically during the month. The exports to China hit the lowest level in 14 years.
The top export destination of US scrap was South Korea. The exports to South Korea totaled 151,000 tons, followed by Taiwan (198,000 tons), Turkey (151,000 tons), Peru (63,000 tons) and Canada (62,000 tons). The US exports to China plunged to 52,000 tons.
The scrap exports from the country extended the weak trend seen in 2013. The exports of ferrous scrap materials during the entire year 2013 had totaled 18.49 million pounds. The export volumes declined sharply by 13.5% when compared with the full year exports recorded during 2012.
A similar decline was witnessed in exports of aluminum scrap during 2013. The US had exported 4.13 billion pounds of aluminum scrap during the year, down 6.3% when compared with the full year aluminum scrap exports during 2012.
Author: Paul Ploumis