U.S. Exports of Scrap Iron and Steel Soared 32%

Author:Suny Group

The U.S. exports of scrap iron and steel surged nearly 32% during the initial nine months of the current year. The imports too were up sharply by over 24% during Jan-Sep ’18, compared with the same nine-month period in 2017, according to the latest trade statistics published by the U.S. Census Bureau. 

The U.S. exported $4.53 billion worth of exports of scrap iron and steel through September this year. This is higher by 31.69% when compared with the corresponding period last year. The U.S. exports of scrap iron and steel during Jan-Sep ’17 had totaled only $3.44 billion. The exports totaled $451.42 million during the month of September 2018 alone.

Turkey was the primary export market destination of scrap iron and steel from the U.S. The exports to that country were valued at $865.09 million, accounting for nearly 19% of the total U.S. exports. The second largest destination was Taiwan with $515.92 million worth of imports from the U.S. The other key export markets were Mexico ($458.05 million), India ($327.22 million) and China ($269.33 million).

Meantime, imports of scrap iron and steel too were up significantly by 24.28% to $1.4 billion through September this year. The U.S. imports had totaled around $1.13 billion during Jan-Sep ’18. The key supplier of scrap iron and steel to the US was Canada, whose supplies totaled $898.35 million. The Canadian supplies accounted for nearly 64% of ak U.S. imports. The other major sources were Mexico ($182.98 million) and the Netherlands ($109.44 million).