By Paul Ploumis (ScrapMonster Author)

January 13, 2016 07:44:24 AM

ALBANY (Scrap Monster): The steel scrap exports by the US during the month of November 2015 dropped significantly, as per the latest statistics released by the Department of Commerce (DOC). According to government data, the steel scrap exports totaled 874,687 tons during November last year.

The exports during Nov ‘15 were down by 5.25% when matched with the exports during the previous month. The country had exported 923,149 tons of steel scrap during October 2015. The exports plunged heavily by over 35% when compared with 1.346 million tons exported during November 2014.

The largest export destination of US scrap was Turkey. The US scrap exports to Turkey totaled 328,285 tons during the month. The exports surged nearly 80% when compared with the prior month. Turkey had imported 182,469 tons of steel scrap from the US during Oct ’15. The exports were up by 27.25% when matched with 256,984 tons during November 2014.

Meantime, US steel exports too declined sharply during November last year. The country’s steel exports totaled 646,064 tons during the month, significantly lower by over 25% when matched with the exports of 865,435 tons during November 2014. Month-on-month, the steel exports dropped by nearly 10%. The US steel exports had totaled 712,210 tons during October last year.

The key export destination of US steel was Canada. The US steel exports to Canada totaled 330,330 tons, accounting for more than 50% of the total exports by US during the month. The other major importers of US steel were Mexico (241,232 tons) and China (7,432 tons).