Author: Paul Ploumis10 Apr 2015 Last updated at 02:57:08 GMT
ALBANY (Scrap Monster): The scrap exports by the US during the month of February this year declined considerably, 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 since the start of the New Year.
As per data, the country’s scrap exports totaled 985,000 tons during Feb ‘15. The exports were down by 17.8% when compared with the exports during the same month a year ago. The US scrap exports during February 2014 had totaled 1.20 million tons. When compared with the previous month exports of 1.035 million tons, the scrap exports during Feb ’15 were down nearly 5%.
The largest export destination of US scrap was Turkey. The US scrap exports to Turkey totaled 391,000 tons in Feb ‘14. The scrap exports to Turkey accounted for nearly 40% of the total scrap exports by the US during the month. The US scrap exports to Taiwan totaled 126,000 tons, thus becoming the second largest importer of US scraps. In third place was Egypt with 68,000 tons.
The cumulative scrap exports during the initial two months of the year totaled 2.02 million tons, down by 3.3% when compared with the exports made by the country during the corresponding two -month period in 2014.
The projected scrap exports by the country for the whole year 2015 stands at 12.20 million tons.