Copper Scrap Exports Declined 12% in Jan-Apr '19
The exports of copper waste and scrap by the U.S. registered sharp decline during the first four months of the current year, says latest trade data published by the U.S. Census Bureau. The country exported $993.97 million worth of scrap copper during this period, down by 12.02% when compared with the exports of $1.13 billion during Jan-Apr ’18. The exports totaled $272.87 million for the month of April ’19 alone.
The primary export destination of copper waste and scrap from the U.S. was China. The tougher restrictions on waste imports by the Chinese Customs authorities have resulted in almost 73% decline in exports to that country. China accounted for approximately 18% of all shipments by the U.S. in Jan-Apr ’19. The second largest importer was Malaysia, whose imports from the U.S. were valued at $144.64 million, registering nearly 459% jump year-on-year. With 10.77% market share, Canada emerged as the third favorite destination of U.S exports.
Meantime, the data through April this year suggests nearly 11% decline in U.S. imports of copper waste and scrap. The country imported $248.49 million worth of material, as compared with the imports of $278.87 million in the corresponding four months in 2018.
The top five sources of import were Canada ($154.18 million), Mexico ($67.65 million), Chile ($6.81 million), Dominican Republic ($3.25 million) and Colombia ($2.22 million). Almost 94% of all copper scrap imports to the U.S. were from the above five countries. The combined imports from these countries totaled $234.12 million.
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