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US ferrous scrap exports fall as China retreats

July 15, 2014 - 10:18 GMT Location: New York

KEYWORDS: US ferrous scrap

US ferrous scrap exports plummeted in May compared with the same month last year following a dramatic cutback in demand from China and Turkey.

Exporters shipped 1.55 million tonnes of ferrous scrap, down 27.8% from nearly 2.15 million tonnes in May last year, as shipments to China plunged 75% to 55,420 tonnes from 222,065 tonnes and sales to Turkey fell 36.9% to 441,078 tonnes from 699,537 tonnes, according to the latest US Commerce Department data. May did deliver one anomaly: Commerce data indicated a single bulk cargo sale from Los Angeles to Turkey, a route that is never competitive due to...

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