U.S. Copper Scrap Exports Declined 12%
The exports of copper waste and scrap by the U.S. registered sharp decline during the initial three-month period of the year, says data published by the U.S. Census Bureau. The country exported $721.1 million worth of scrap copper during this period, down by 12.29% when compared with the exports of $822.14 million during Jan-Mar ’18. For the month of March ’19, the exports by value totaled $269.43 million.
The primary export destination of copper waste and scrap from the U.S. was China. The stricter controls on waste imports by the Chinese administration have led to 77% decline in U.S. exports to that country. Still, China accounted for almost 16% of all shipments by the U.S. in Jam-Mar ’19. The second largest importer was Malaysia, whose imports from the U.S. were valued at $103.24 million, registering nearly 495% year-on-year jump. With 10.94% market share, Canada emerged as the third favorite destination of U.S exports.
Meantime, the data through March ’19 suggests 19% decline in U.S. imports of copper waste and scrap. The country imported $175.57 million worth of material, as compared with the imports of $216.32 million in the corresponding three-month period in 2018.
The top five sources of import were Canada ($108.26 million), Mexico ($50.43 million), Chile ($3.28 million), Dominican Republic ($2.43 million) and Colombia ($1.8 million). Almost 65% of all copper scrap imports to the U.S. were from the above five countries. The combined imports from these countries totaled $166.2 million.