Asian buys boost US shredded exports

Dec 23, 2008 | 10:47 AM | Michael Marley

A shredded scrap buying binge by steelmakers in China and South Korea more than offset lower sales elsewhere to boost U.S. exports by 5.2 percent in October.

Shipments of the fragmented scrap climbed to 699,244 tonnes, according to the latest statistics from the U.S. Commerce Department, up from 664,589 tonnes the previous month, pushing the 10-month total to 7,434,212 tonnes, an 86-percent jump from 3,995,880 tonnes in the same period last year.....

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