US scrap metal exports fell 47 percent in January

US scrap exports during January 2016 totaled 552,559 tons, according to government data. Exports in January of this year were down 47 percent when compared with exports in the same month of the previous year. The country exported 1.04 million tons of scrap in January 2015.

Turkey was the largest export destination for American scrap metal. Exports of steel scrap from the United States to Turkey reached 105,479 tons within a month. Shipments to Turkey accounted for nearly one-fifth of total US exports in January. India was the second largest imports of American scrap metal. Exports of scrap steel from the country to India amounted to 88.405 tons. In third place was Mexico with imports of 63,691 tons.

Meanwhile, US scrap metal exports plummeted 15 percent during 2015, reaching their lowest level in nine years. A huge drop in demand from Turkish buyers due to increased purchases from sources in the EU, as well as the use of cheap Chinese billets instead of scrap metal, are the main reasons for the sharp drop in US exports.