U.S. Census Bureau Reports 10% Dip in Copper Scrap Exports

The U.S. exports of copper waste and scrap by the U.S. recorded notable decline during the first five months of 2019, according to most recent trade data published by the U.S. Census Bureau. The country exported $1.24 billion worth of scrap copper during this period, which is down by 10.19% when compared with the exports of $1.39 billion during the corresponding five-month period last year. The monthly exports by value totaled $250.3 million in May ’19.

The key destination of U.S. copper waste and scrap exports until May this year was China. The tougher restrictions on waste imports by the Chinese administration have resulted in nearly 70% decline in the total exports to that country. Still, China accounted for more than 18% of all shipments by the U.S. in Jan-May ’19. The second largest market was Malaysia, whose imports from the U.S. were valued at $183.03 million. The exports to Malaysia skyrocketed by over 298% from the previous year. With almost 11% market share, Canada emerged as the third largest destination of U.S exports of copper waste and scrap.

Meantime, the initial five-month data suggests over 10% decline in imports of copper waste and scrap by the U.S. The country imported $312.58 million worth of material, as compared with the imports of $347.35 million in the corresponding five-month period last year.

The top five sources of import were Canada ($193.4 million), Mexico ($86.75 million), Chile ($6.97 million), Dominican Republic ($4.25 million) and Colombia ($2.79 million). More than 94% of the entire copper waste and scrap imports by the U.S. were from the above five countries.