Shredded scrap exports slide nearly 14%
Nov 18, 2009 | 05:11 AM
| Michael Marley
Shipments of shredded scrap to foreign steel mills and foundries dropped by nearly 14 percent in September from the previous month as China and Mexico trimmed their intake and Thailand abandoned the U.S. market altogether.
Exports sank to 758,113 tonnes, down a little more than 120,000 tonnes from 878,138 tonnes in August, which stands as the high water mark for the year thus far, according to the latest figures from the U.S. Commerce Department.
Shipments to market leader China sagged to 161,180 tonnes, down 54.9 percent from 357,309 tonnes in the same comparison. Even taking into account the September decline, China's almost 2.5-million-tonne intake of shredded scrap from the United States thus far this year still stands at nearly 10 times the 262,855 tonnes it took in the first nine months of last year.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.