US scrap exports tumbled 47% in January

Published: Mar 15, 2016 08:59

Save

According to government data, the US scrap exports totaled 552,559 tons during January this year.

By Paul Ploumis (ScrapMonster Author)

March 14, 2016 07:58:04 AM

ALBANY (Scrap Monster): The scrap exports by the US during the month of January 2016 dropped significantly, as per the latest statistics released by the Department of Commerce (DOC).

According to government data, the scrap exports totaled 552,559 tons during January this year. The exports during Jan ‘16 were down by 47% when matched with the exports during same month the previous year. The country had exported 1.04 million tons of scrap during January 2015.

The largest export destination of US scrap was Turkey. The US scrap exports to Turkey totaled 105,479 tons during the month. Turkey accounted for nearly one-fifth of the total US exports during the month. The second largest importer of US scrap was India. The country’s scrap exports to India totaled 88,405 tons. In third place was Mexico with 63,691 tons.

Meantime, US scrap export volumes had dropped sharply by 15% during 2015 to touch the lowest level in nine years. The huge demand drop from Turkish buyers on account of increased purchases from EU sources and the use of cheap Chinese billets in place of scrap were cited as the key reasons behind the drastic fall in scrap exports by the country.

scrap recycling scrap metals

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

10 hours ago

"Premier Li Qiang Leads State Council Meeting on Enhancing Effective Investment, Boosting Economic Growth"

Premier Li Qiang presided over an executive meeting of the State Council to study policy measures for promoting effective investment. The meeting noted that promoting effective investment plays an important role in stabilizing economic growth and strengthening momentum for development. It is necessary to innovate and improve policy measures, and intensify efforts to enhance the efficiency of utilizing funds such as central budget investments, ultra-long-term special treasury bonds, local government special bonds, and new-type policy-based financial instruments. In conjunction with formulating and implementing the 15th Five-Year Plan

10 hours ago

"Guided by Xi Jinping Thought, Implement 20th CPC Congress Spirit, Apply New Development Philosophy...

Guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, we will thoroughly implement the spirit of the 20th National Congress of the Communist Party of China and the plenary sessions of the Party’s 20th Central Committee, fully and faithfully apply the new development philosophy, strengthen top-level design, build computing power interconnection nodes oriented toward national hub periods, major strategic regions, and key industries, establish a system of computing power interconnection nodes, improve the efficiency and service level of public computing power resources, and promote high-quality development of computing power.

10 hours ago

Indirect Iran-US Nuclear Talks in Muscat Show Progress, Omani FM Mediates Tense but Efficient Discussions

After intensive indirect consultations, the new round of nuclear talks between Iran and the US in Muscat, the capital of Oman, has achieved phased progress. It is reported that during this round of talks, the Iranian and US delegations did not meet directly. Instead, Omani Foreign Minister Badr acted as an intermediary, conveying a series of core proposals, strategic concerns, and policy positions to the other side. The atmosphere at the talks was tense yet efficient. According to preliminary on-site assessments, although both sides continue to negotiate over specific terms, they have reached a consensus on the key objective of "continuing dialogue."

10 hours ago