ZHENGYANG MACHINERY EQUIPMENT Co.,Ltd.

U.S. Precious Metal Scrap Exports Dropped Marginally

 The recent trade statistics published by the US Census Bureau suggests slight decline in exports of precious metal scrap by the country during the initial five-month period of the current year. On the other hand, imports recorded notable increase during this period.

The exports totaled $1.88 billion through May this year. This is marginally down by 0.63% when matched with the exports of $1.90 billion during the corresponding five-month period last year. It must be noted that exports of precious metal scrap had totaled $4.30 billion during the entire year 2018.

The top five foreign markets for US exports were Canada, Italy, United Kingdom, Germany and Japan. These five countries received more than 89% of the precious metal scrap shipments out of the US. The imports by Canada totaled $580.57 million, accounting for approximately 31% all US exports. The imports by the country surged higher by nearly 44% over the previous year. Imports by Italy surged higher by almost 19% to total $314.85 million. Meantime the imports by the UK stood at $314.61 million. Germany and Japan imported $266.08 million and $209.14 million worth of precious metal scrap during Jan-May ’19.

The US imports of scrap of precious metals surged higher by 9.02% through May this year to $812.13 million. The key suppliers were Germany, Canada, the UK, Mexico and Japan, which together accounted for over 67% of total imports by the US.