Bulk Exports of Ferrous Scrap Surged 13%

SEATTLE (Scrap Monster): The recent statistics published by the U.S. Department of Commerce suggests notable jump in U.S. ferrous scrap exports in February 2020. The dip in exports to Turkey was offset by surge in exports to Asia and Latin American countries.

The U.S. exports totalled 1.32 million metric tons during the month, higher by 24% from February last year. The cumulative exports during the initial two-month period of the year surged higher by almost 45% to 2.8 million metric tons.

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The bulk exports of ferrous scrap from the U.S. surged higher by 13% to 753,000 metric tons in February this year, mainly driven by boosted shipments to Asian and Latin America. Bulk shipments to Bangladesh hit a new record high of 121,000 metric tons. Also, bulk shipments to Peru and Thailand totalled 62,000 metric tons and 57,000 metric tons respectively. On the other hand, bulk exports to Turkey hit the lowest level in 10 months, falling to 221,000 metric tons. The bulk volumes to South Korea too were down sharply by 63% to 77,000 metric tons.

Meantime, containerized ferrous scrap volumes too recorded surge during the month, edging higher by 46% year-on-year to total 418,000 metric tons, mainly driven by Malaysia and Taiwan.