ZHENGYANG MACHINERY EQUIPMENT Co.,Ltd.

U.S. Scrap Iron and Steel Exports Recorded Notable Decline

The latest trade statistics published by the U.S. Census Bureau suggests notable decline in exports of scrap iron and steel during the initial eight-month period of 2019. The exports dropped by 9.92% year-on-year to total $3.68 billion during Jan-Aug ’19, as compared with $4.08 billion during the corresponding eight-month period last year.

The topmost trade partner was Turkey. The exports to that country were valued at $696.56 million, accounting for nearly 19% of the total exports by the U.S. The exports to Turkey were down by 7.58% over the previous year. Taiwan, the second largest export destination, received $427.94 million worth of scrap iron and steel. The U.S. exports to Taiwan recorded year-on-year decline by 8.36%. In third place was India with total imports of $340.9 million. The other key importers were Vietnam ($309.41 million) and South Korea ($245.42 million). The above five countries together accounted for approximately 55% of all U.S. exports in Jan-Aug ‘19.

Also, imports of scrap iron and steel dropped heavily by 24.58% to $949.31 million through August this year. The U.S. imports had totalled around $1.26 billion during the similar eight-month period in 2018. The primary supplier of scrap iron and steel to the US was Canada, whose supplies totalled $630.59 million. The other major sources of import were Mexico ($151.87 million) and Sweden ($77.17 million).