Author: Paul Ploumis
14 May 2015 Last updated at 01:37:16 GMT
ALBANY (Scrap Monster): The scrap exports by the US during the month of March this year recovered sharply, 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 1.23 million tons during Mar ‘15. The exports were up by 7.7% when compared with the exports during the same month a year ago. The US scrap exports during March 2014 had totaled 1.14 million tons. When compared with the previous month exports of 985,000 tons, the scrap exports during Mar ’15 were up nearly 24.9%.
The largest export destination of US scrap was Taiwan. The US scrap exports to Taiwan totaled 229,000 tons in Feb ‘14. The scrap exports to Turkey accounted for less than 20% of the total scrap exports by the US during the month. The US scrap exports to Taiwan during Feb ’15 had totaled 126,000 tons.
The second largest importer of US scrap was Turkey. The US scrap exports to Turkey totaled 215,000 tons, plunging significantly by nearly 45% when compared with the exports of 391,000 tons during the previous month. In third place was Mexico with 147,000 tons.
The cumulative scrap exports during the initial three months of the year totaled 3.259 million tons, down by 5% when compared with the exports made by the country during the corresponding three-month period in 2014.
The projected scrap exports by the country for the whole year 2015 stands at 13.04 million tons.