Author: Paul Ploumis16 Jun 2014 Last updated at 09:17:12 GMT
SPOKANE (Scrap Monster): According to trade statistics released by the US Department of Commerce, Bureau of the Census, the country’s ferrous scrap exports declined significantly during the initial four-month period of the year. The scrap exports by the country totaled 4.772 million tons, 25.1% down when compared with the exports during the similar four-month period in 2013.
The largest importer of US scrap during the period was Turkey. The US scrap exports to Turkey totaled 1.035 million tons, accounting for 21.7% of the total exports by the US. The scrap exports to Turkey fell 38.8% from the previous year. In second place was Taiwan with 880,000 tons, falling 15.8% when compared with the US scrap exports to the country during the same period last year. The third largest importer of US ferrous scrap was South Korea. The US scrap exports to Korea totaled 691,000 tons during Jan-Apr ‘14, down 7.1% over the previous year.
Japan recorded huge jump in ferrous scrap imports from the US. The imports by the country surged 157.7% during January-April period, totaling 17,491 tons. The US scrap exports to Bangladesh declined the most during this period. The exports to Bangladesh fell 91% over the previous year to 36,045 tons.
The other major importers of US ferrous scrap were China (676,836 tons, down 58.8%), Egypt (371,757 tons, -55.6%), India (252,234 tons, down 61.1%), Vietnam (250,781 tons, down 76.2%) and Indonesia (233,332 tons, down 33.8%).