By Paul Ploumis 12 Aug 2015 Last updated at 02:41:02 GMT
SPOKANE (Scrap Monster): The latest statistics released by the US Department of Commerce (DOC) indicates that the country’s Nickel scrap exports fell sharply by 28.2% in June this year when compared with the previous month. It must be noted that nickel scrap exports by the country had rebounded by nearly 37.2% month-on-month in May this year. Also, the average export price of nickel scrap recorded significant decline when comparison with the previous month.
The nickel scrap exports during June ‘15 totaled 1,888 tons, dropping significantly by 28.2% when compared with the exports during May this year. The country’s Nickel scrap exports during May ’15 had totaled 2,629 tons.
The US Nickel scrap exports to Canada totaled 1,176 tons. Canada was the largest importer of Nickel scrap from the US. In second place was Sweden with 294 tons, followed by Australia (168 tons) and Japan (133 tons).
The average export price during June ’15 witnessed drop of nearly 13.6% over the previous month. The export prices averaged at $3,501.83 per ton during the month. The Nickel scrap export prices had averaged at $4,051.12 per ton during May this year. According to industry sources, the sharp fall in LME Nickel prices has led to the decline in nickel scrap export prices.
The cumulative nickel scrap exports during the initial six-month period of the year totaled 13,067 tons. The largest export destination of US nickel scrap during the six-month period of the year was Canada. The exports to Canada totaled 9,339 tons, accounting for more than 70% of the total nickel scrap exports by the US during this period. In second place was Australia with 846 tons, followed by Sweden (743 tons) and Japan (527 tons).