May Ferrous Scrap Exports Down 28 Percent over Last Year

May ferrous scrap exports totaled 1,708,695 net tons (1,550,104 metric tons) with Turkey, Taiwan, Korea, Canada, and Egypt being the top five countries where scrap was sent. These countries accounted for 69.1 percent of all scrap exports.

Total May ferrous scrap exports were 15.7 percent higher than previous month but 27.8 percent lower than the same month one year ago. Although May exports were increased over April, there were fluctuations as much as 130,000 tons up and 68,000 tons down, with large fluctuations in shipments to Turkey, Taiwan, China, Korea, Egypt, Vietnam, Pakistan, and Malaysia. Compared to the same month one year ago, there are also significant differences in tonnage levels going to the select countries we follow, but the overall results shows imports down 656,632 tons.