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US ferrous scrap exports fall as China retreats
July 15, 2014 - 10:18 GMT
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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Euromoney Institutional Investor PLC.
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