Shredded scrap exports on run despite August dip

Oct 17, 2007 | 07:39 AM | Michael Marley

Exports of shredded scrap slipped more than 10 percent in August despite a strong rebound in shipments to Greece and Egypt and a mild uptick in the cargoes delivered to Turkish steelmakers.

Exports sagged to 425,233 tonnes, down almost 50,000 tonnes from 474,164 tonnes in July, according to the latest figures from the U.S. Commerce Department.

Even with the monthly decline, offshore sales of shredded scrap continue at a record pace. For the first eight months, the export total rose nearly 39 percent to 3,150,607 tonnes from 2,269,760 in the same span last year. If that 400,000-tonne-plus monthly pace continues for the remainder of this year, shredded exports could top 5 million tonnes this year.....

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