Scrap Aluminum Exports Slumped 6% Until July 2019
The primary export destination of aluminum waste and scrap from the U.S was China.
The most recent trade statistics published by the U.S. Census Bureau indicates that exports of aluminum scrap registered modest decline during the first seven months of the current year. The exports during this period were valued at $1.35 billion, lower by 6.3% when matched with the previous year. The U.S. exports during the corresponding seven-month period in 2018 had totaled $1.44 billion.
The primary export destination of aluminum waste and scrap from the U.S was China. The value of exports to China totaled $292.15 million, accounting for nearly 22% of the total U.S. shipments. Meantime, the exports to China registered significant decline, falling by almost 45% from the previous year.
The second largest importer was India, with inward shipments from the U.S. valued at $194.13 million. The Indian imports surged higher significantly by over 40% year-on-year. South Korea emerged as the third largest importer, receiving $180.11 million worth of aluminum scrap from the U.S.
The other key export market destinations were Malaysia ($135.34 million) and Mexico ($108.66 million).
More than 67% of the total aluminum scrap shipments out of the U.S. during Jan-July '19 were to the above five countries.
The U.S. imported $494.54 million worth of aluminum scrap during the first seven months of the current year. This is upon comparison with the imports of $656.61 million during the year-ago period. The imports reported approximately 25% year-on-year decline. Canada, Mexico and Guatemala were the three key sources of import.
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