Chinese importers gobble up US shredded

Oct 18, 2005 | 01:52 PM | Michael Marley

China's ferrous scrap importers took a leap forward in shredded scrap buying in August, raising their intake of fragmented scrap from U.S. suppliers to the highest level in more than two years.

The Chinese buying binge boosted overall U.S. exports of shredded scrap to 438,557 tonnes, a 34.3-percent increase from the 326,475 tonnes shipped to international consumers in July, according to the latest figures from the U.S. Commerce Department.

The Chinese took 285,729 tonnes of shredded from the United States in August, a 59.8-percent jump from 178,761 tonnes the previous month, more than offsetting declines elsewhere. It was China's highest one-month total since July 2003, when that nation imported 297,671 tonnes of shredded from the United States.....

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