Weak demand sinks shredded scrap exports

Dec 02, 2011 | 02:13 PM | Sean Davidson

Tags  shredded scrap, scrap exports, Commerce Department, Sean Davidson

NEW YORK — Weak demand from Turkey and China hit exports of shredded scrap in September, with monthly volumes down nearly 300,000 tonnes from the prior month.

One month after reaching its single-highest monthly total in three years, higher price demands from U.S. exporters led to a significant drop in volumes.

Shredded exports totaled 668,940 tonnes in September, according to the latest figures from the U.S. Commerce Department. That’s down 30.5 percent from 962,850 tonnes in August, which had marked the highest monthly total since August 2008, when 1,063,145 tonnes were shipped abroad. ....

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