US copper scrap exports, imports fall to new lows

US copper scrap exports fell to a one-year low in June on continued lower volumes to China, while scrap imports fell to their lowest level since July 2016 amid less product from Canada.

US copper scrap exports to China continued to decline amid tariffs and stricter quality standards from the major consumer, while exports to other Asian destinations rose, according to the latest trade data from the US Commerce Department.

June exports to China fell by 40pc year over year to 8,538t, while exports to Malaysia rose by 38.5pc to 14,338t.

Exports to Hong Kong were up by 63.8pc to 5,766t, and exports to India rose by 22.3pc to 4,861t. Exports to Canada rose slightly to 6,943t.

Scrap exports for June fell by 14pc from May to 66,487t but were 2.5pc higher from June 2018 amid higher exports to Malaysia, Hong Kong and India.

Bare bright copper exports rose by 41.7pc to 4,671t from a year earlier. Exports of #1 copper exports fell by 32.2pc to 5,589t and #2 copper exports dropped by 16.2pc to 8,394t. Other copper scrap exports fell by 16.3pc to 14,944t.

Mixed copper and copper alloy scrap exports rose by 62pc to 23,590t.

Scrap imports were down by 25.2pc from a year earlier at 10,051t and down by 4,172t from April.

Imports of copper alloy scrap comprised almost half of total imports at 4,540t, which was down by 37pc from a year earlier. Imports of refined copper scrap fell to 2,068t, down by 74t from a year earlier, while imports of spent anodes scrap with less than 94pc of copper was at 1,007t, down by 79t.

Copper imports from Mexico rose by 107t from a year earlier at 4,810t, while imports of copper from Canada fell by 50pc to 3,881t.