US Nickel scrap exports soared in October

By Paul Ploumis (ScrapMonster Author)

December 18, 2015 02:42:45 AM

SPOKANE (Scrap Monster): The latest statistics released by the US Department of Commerce (DOC) indicates that the country’s Nickel scrap exports surged higher by 30.9% in October this year when compared with the previous month. However, the average export price of nickel scrap slumped heavily by nearly 11% upon comparison with the previous month.

The nickel scrap exports during October ‘15 totaled 2,765 tons, rising considerably by 30.9% when compared with the exports during September this year. The country’s Nickel scrap exports during Sep ’15 had totaled 2,113 tons.

Canada was the largest importer of Nickel scrap from the US during Oct ’15. The exports to Canada totaled 1,698 tons, accounting for over 61% of the total nickel scrap exports by the US during the month. The exports to Canada jumped higher significantly when compared with 1,356 tons during the month before. The second largest importer was Sweden with 366 tons, followed by the UK with 329 tons. The other key importers of nickel scrap from the US were the Netherlands (208 tons), Japan (100 tons) and Australia (24 tons).

The average export price during October ’15 witnessed substantial decline of nearly 10.9% over the previous month. The export prices averaged at $3,402.70 per ton during the month. The Nickel scrap export prices had averaged at $3,818.97 per ton during September this year.

The cumulative nickel scrap exports by the US during the initial ten-month period of the year totaled 21,969 tons. The value of exports amounted to $90.324 million. The top three exporting destinations during this period were Canada (15,102 tons), Sweden (2,332 tons) and the UK (1,198 tons). The top three importing nations accounted for nearly 85% of the total US nickel scrap exports during the ten-month period from January to October this year.