US exports of stainless steel scrap declined by 21pc in February from a year earlier, led by reduced volumes to Taiwan, Canada and the Netherlands.
Total US stainless steel exports dropped to nearly 21,300 metric tonnes in February from about 27,100t a year earlier, according to customs data.
India remained the largest US export destination for US stainless scrap even as shipments declined by 7.2pc to about 11,100t in February from about 11,900t a year earlier.
Volumes to the Netherlands contributed the most to February's decline, with stainless scrap shipments reported at only 35t, dropping from about 3,000t a year earlier.
Substantial declines to Taiwan and Canada also contributed to the overall drop, with volumes exported to Taiwan of about 1,800t, down from about 3,900t from a year prior. Meanwhile, the US exported nearly 2,000t to Canada, falling from about 3,500t the same period last year.
The trend of falling stainless steel scrap exports is expected to continue in March as domestic scrap remains tight and processors compete for available volumes, causing prices to remain higher than comparable export prices.
