Author: Paul Ploumis21 Jan 2015 Last updated at 01:04:12 GMT
ALBANY (Scrap Monster): The scrap exports by the US during the month of November last year increased modestly, according to the latest trade data released by the US International Trade Commission. The scrap exports by the country had been in a declining trend until Oct ’14 with exports hitting the year’s lowest levels during September.
As per data, the country’s scrap exports totaled 1.35 million tons during Nov ‘14. The exports were up by 9.7% when compared with the exports during the same month a year ago. The US scrap exports during November ’13 had totaled 1.23 million tons.
Also, scrap exports by the country stood marginally higher when compared with the prior month. The scrap exports during Nov ’14 were up slightly by 1.5% when compared with the total exports of 1.33 million tons during October 2014.
The largest export destination of US scrap was Taiwan. The US scrap exports to Taiwan totaled 232,000 tons in Nov’14. The scrap exports to Taiwan jumped by nearly 15% over the previous month.
The US scrap exports to Turkey dropped sharply during November ’14 in comparison with the exports of 417,000 tons a month before. The scrap exports to Turkey totaled 182,000 tons during the month, dropping by more than 55% from the previous month.
The third largest importer of US scrap was South Korea with 137,000 tons.
The cumulative scrap exports during the initial eleven months of the year totaled 14.28 million tons, down by 15.7% when compared with the exports made by the country during the corresponding eleven-month period in 2013.
The projected scrap exports by the country for the whole year 2014 stands at 15.58 million tons.