Author: Paul Ploumis
09 Dec 2014 Last updated at 08:13:51 GMT
SEATTLE (Scrap Monster): The latest trade data released on Monday by the US Department of Commerce (DOC) and the US International Trade Commission (ITC) indicates that the country's ferrous scrap imports touched 32-month high during the month of October this year. The imports peaked ahead of the seasonal slowdown period, the data showed.

The scrap imports by the US totaled 426,181 mt in Oct '14, 22% higher when compared with the imports during the previous month. The US scrap imports had totaled 350,743 mt during Sep '14. The Oct '14 imports are the highest since February 2012 when the country had imported 434,035 mt of scrap material.

The largest scrap exporter to the US was Canada with 314,072 mt, accounting for almost three-fourth of the scrap imports by the US during the month. Imports from Sweden totaled 39,147 mt, followed by Mexico (38,265 mt) and the Netherlands (25,256 mt).

The US remained the largest exporter of steel scrap during Oct '14. The exports totaled 1.34 million mt during the month, with significant rise in exports to the Southeast region.

According to US ITC, the strength in the US dollar and the stockpiling ahead of the upcoming winter season led to huge jump in scrap imports by the US.