Shredded exports off; China said defying hikes

Nov 16, 2005 | 01:59 PM | Michael Marley

U.S. exports of shredded scrap fell nearly 53 percent in September as shipments to China plunged sharply from a nearly two-year high the previous month.

Overall, exports of the fragmented scrap dipped to 208,185 tonnes from 438,557 tonnes in August, according to the latest figures from the U.S. Commerce Department. China registered the most dramatic decline, with September imports tumbling 73 percent to 77,187 tonnes from 285,729 tonnes the previous month.

But China wasn't the sole foreign buyer to take in less shredded scrap from U.S. suppliers in September. Mexico sliced its imports by 93.4 percent to a mere 2,473 tonnes, and South Korea cut its intake by 60.8 percent to 15,000 tonnes. Thailand was a no-show for the second month in a row, and although Malaysia returned to the U.S. docks after a two-month absence, it picked up only 7,698 tonnes of shredded from U.S. suppliers.....

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