NEW YORK U.S. ferrous scrap exports rose to a four-month high in December, led by increased purchasing by Turkey and South Korea.
December exports of nearly 1.57 million tonnes were at their highest level since August, when 1.69 million tonnes were shipped abroad.
Turkeys December intake of 498,741 tonnes was up 87 percent from the previous month, while Koreas buys were 95.1 percent higher at 432,090 tonnes, according to the latest U.S. Commerce Department data. Egypt and Japan also increased their buying activity substantially in the same comparison.
Although Decembers ferrous scrap exports jumped 26.8 percent from the previous month, they were down 2.5 percent from nearly 1.61 million tonnes in December 2012.
No. 1 heavy melt, the largest ferrous scrap export category, totaled 484,549 tonnes in December, up 43.3 percent from November and 2.4 percent higher than 473,206 tonnes a year earlier. Shredded scrap exports of 479,357 tonnes in December were up 1.8 percent from the previous month but down 12.5 percent from 547,857 tonnes in December 2012.