US scrap exports rose 26 percent in August

At the same time, US scrap exports declined slightly at an annualized rate during August 2014, according to the latest trade data released by the US International Trade Commission.

According to these data, the export of scrap in the country during the month amounted to 1.57 million tons. Exports decreased by 6.7 percent compared to exports for the same month last year, when they amounted to 1.68 million tons.

However, the export of scrap across the country increased compared to the previous month. Exports of scrap during August 2014 were 26.3 percent higher compared to total exports of 1.25 million tonnes in July this year.

US scrap exports to Turkey increased to 321,000 tons during the month of August 2014 compared to 302,469 tons in the previous month. Thus, scrap exports to Turkey accounted for nearly one-fifth of the total US scrap exports during that month.

The second largest export destination for US scrap was South Korea. Exports of scrap from the United States to South Korea amounted to 277,000 tons. The third largest importer of American scrap was Taiwan with 201,000 tons.

The cumulative exports of scrap in the first eight months of this year amounted to 10.42 million tons, up 18.7 percent over the country's exports for the corresponding eight-month period in 2013. The projected export of scrap across the country for the entire 2014 is assumed to be 15.63 million tons.