Shredded scrap exports up 17.8% in August

Oct 23, 2006 | 09:10 AM | Michael Marley

Exports of shredded scrap rose by 17.8 percent in August from the prior month despite the continued decline in shipments to China, the leading offshore market for U.S. shredded scrap exporters for the past three years.

Overall, shipments of the fragmented scrap to foreign steel mills and foundries rose to 379,265 tonnes, up from 322,052 tonnes in July, according to the latest figures from the U.S. Commerce Department. But the August gain did not erase the yearlong decline in offshore sales of shredded scrap. January-to-August exports have slumped by more than 20 percent when matched against the same eight-month span of last year—down to 2,269,760 tonnes from 2,866,430 tonnes that went overseas in the 2005 period.....

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