The US steel scrap exports decreased 21.5% to 1.034 million tons in June. The scrap exports decreased 12.1% year on year to 1.317 million tons in June. The value of exports witnessed over 18% year-on-year decline to total $3.328 billion.
The largest importer of US scrap was Mexico. The US steel scrap exports to Mexico totaled 222,579 tons, constituting almost 22% of the total scrap exports by the US during June.
The second largest importer of US steel scrap was Kuwait, which imported 133,122 tons of scrap in June. The other key importers of steel scrap from the US were Taiwan (90,643 tons), Peru (89,277 tons) and Turkey (88,028 tons).
The cumulative steel scrap exports totaled 5.901 million tons in the first half of 2016. The nation’s steel exports are likely to touch 11.80 million tons in 2016.
The US exported 1.317 million tons and 969,409 tons of scrap in May and April, respectively. The US exported 995,288 tons of scrap in March. Turkey was again the largest importer of US scrap in March, April and May.