Asian buying boosts shredded scrap exports 46.6%

Dec 17, 2007 | 11:33 AM | Michael Marley

A buying binge by steelmakers and foundries in several Asian countries boosted U.S. exports of shredded scrap by 46.6 percent to 502,471 tonnes in October from 342,802 tonnes the previous month.

Although overseas deliveries in October topped the half-million-tonne mark, shipments remained below the record 529,952 tonnes sent abroad in February this year, according to U.S. Commerce Department figures.

South Korean steelmakers returned to the U.S. docks to take 83,169 tonnes of fragmented scrap in October after taking not a single pound the previous month, pushing its year-to-date purchases to 261,114 tonnes, more than double last year's pace.....

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