Scrap Copper Exports on the Decline in the U.S.

SEATTLE (Scrap Monster): The exports of copper waste and scrap by the U.S. registered sharp decline during the first six months of the current year, says the latest trade statistics published by the U.S. Census Bureau. The country exported $1.47 billion worth of scrap copper during this period, down by 9.40% when compared with the exports of $1.62 billion during Jan-June ’18. For the month of June ’19, the exports by value totaled $223.09 million.

The primary export destination of copper waste and scrap from the U.S. was China. The exports to that country reported sharp decline by more than 67% year-on-year, mainly on account of stricter import restrictions by Customs authorities. China accounted for more than 18% of all U.S. shipments during the initial six months of the year. The second largest importer was Malaysia, whose imports from the U.S. were valued at $209.78 million, registering nearly 218% year-on-year jump. With 10.81% market share, Canada emerged as the third favorite destination of U.S exports.

Meantime, the half yearly data suggests over 14% decline in U.S. imports of copper waste and scrap. The country imported $356.1 million worth of material, as compared with the imports of $415.67 million in the corresponding six months in 2018.

The top five sources of import were Canada ($212.68 million), Mexico ($105.44 million), Chile ($7.08 million), Dominican Republic ($4.94 million) and Colombia ($3.36 million). Almost 94% of all copper scrap imports to the U.S. were from the above five countries. The combined imports from these countries totaled $333.5 million.