U.S. Scrap Iron and Steel Exports Dropped by One-Tenth

SEATTLE (Scrap Monster): The latest U.S. Census Bureau data points to 10.31% decline in exports of scrap iron and steel by the country during the first eleven months in 2019. This is when compared with the exports during the corresponding period in 2018. The exports totalled $4.92 billion in Jan-Nov ’19.

The largest export destination was Turkey, which received $943.9 million worth of scrap from the U.S. More than 19% of total U.S. exports were to Turkey. The exports to Turkey dropped by just over 8% when compared with the previous year. In second place was Taiwan with a market share of nearly 12%, accounting for $586.07 million worth of U.S. scrap iron and steel exports until November last year. India imported $460.27 million. The other key importers were Vietnam ($349.69 million) and Malaysia ($337.26 million).

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The above five foreign markets together imported $2.68 billion of the $4.92 billion, representing nearly 54% of the total U.S. exports.

The imports of scrap iron and steel by the U.S. too registered significant decline by almost 28% to total close to $1.2 billion. The top five suppliers were Canada ($811.67 million), Mexico ($191.33 million), Sweden ($77.18 million), the Netherlands ($47.68 million) and the UK ($35.78 million). These U.S. imports of scrap iron and steel from the above five countries totalled $1.16 billion, which in turn accounted for approximately 97% of the total U.S. imports until November last year.