Stainless scrap exports rise 12% to 2010 high

Nov 05, 2010 | 03:12 AM | Michael Marley

U.S. stainless steel scrap exports rose 12 percent in August, the highest seen level thus far this year, spurred in part by buying from specialty steelmakers in Europe.

Exports to foreign specialty steelmakers and importers climbed to 90,477 tonnes, according to the latest figures from the U.S. Commerce Department. That's the highest one-month total since last October, when 96,546 tonnes were exported.

Part of that August total reportedly included a 5,393-tonne shipment to Vietnam, a country that has no stainless steel production facilities. The Commerce data frequently includes such shipments to Asian countries that produce no stainless steel products. Several U.S. market sources have said they believe these shipments are actually ferrous scrap that has been mislabeled.....

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