U.S. Scrap Iron and Steel Exports Posted Heavy Decline in H1 2020

SEATTLE (Scrap Monster): The export trade data published by the U.S. Census Bureau suggests notable decline in exports of scrap iron and steel during the first half of the current year. The exports were down by 17.76% to total $2.19 billion, as compared with $2.67 billion during the corresponding six-month period in 2018.

The topmost trade partner during H1 2020 was Turkey. The exports to that country were valued at $479.91 million. The receipts by Turkey dropped modestly by almost 6% over the previous year. Taiwan, the second largest export destination, received $254.33 million worth of scrap iron and steel. The U.S. exports to Taiwan registered sharp decline by over 20%. In third place was Mexico with total imports of $220.31 million. The other key importers were Malaysia ($163.41 million) and India ($159.42 million).

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Also, imports of scrap iron and steel were down substantially by 22.83% to $582.78 million through June this year. The U.S. imports had totalled around $755.2 million during the similar two-six period in 2019. The primary supplier of scrap iron and steel to the US was Canada, with supplies totalling $397.01 million. The supplies from that country represented over 68% of all U.S. imports. The other major sources of import were Mexico ($85.08 million) and the Netherlands ($31.88 million).