By Paul Ploumis 11 Sep 2015 Last updated at 01:44:14 GMT
SPOKANE (Scrap Monster): The latest statistics released by the US Department of Commerce (DOC) indicates that the country’s Nickel scrap exports grew by 8.3% in July this year when compared with the previous month. It must be noted that nickel scrap exports by the country had declined sharply by nearly 28.2% month-on-month in June this year. Also, the average export price of nickel scrap jumped higher significantly upon comparison with the previous month.
The nickel scrap exports during July ‘15 totaled 2,044 tons, rising considerably by 8.3% when compared with the exports during June this year. The country’s Nickel scrap exports during June ’15 had totaled 1,888 tons.
The US Nickel scrap exports to Canada totaled 1,484 tons. Canada was the largest importer of Nickel scrap from the US. In second place was Sweden with 341 tons, followed by Mexico (90 tons) and the UK (72 tons). The scrap export volumes to Canada, Mexico and Sweden surged higher during the month, thus offsetting the sharp drop in exports to Japan and Australia.
The average export price during July ’15 witnessed rise of nearly 6.3% over the previous month. The export prices averaged at $3,723.03 per ton during the month. The Nickel scrap export prices had averaged at $3,501.83 per ton during June this year. Meantime, LME Nickel prices extended its decline from the previous month. The prices fell by more than 9% during July this year.
The cumulative nickel scrap exports during the initial seven-month period of the year totaled 15,111 tons. The largest export destination of US nickel scrap during the seven-month period of the year was Canada. The exports to Canada totaled 10,883 tons, accounting for more than 72% of the total nickel scrap exports by the US during this period. In second place was Sweden with 1,084 tons, followed by Australia (864 tons) and the UK (660 tons).