US ferrous scrap exports totaled 1.25 million mt in July, down just slightly from 1.27 million mt the month before and up from 1.2 million mt in July 2013, US International Trade Commission data shows.
Turkey remained the largest buyer of US scrap, importing 302,469 mt of material, ahead of Taiwan at 189,075 mt.
Thailand surpassed Korea as the second-largest buyer of US West Coast scrap, importing 150,475 mt of material in July -- a six-year high for the country and more tonnage than Korea's July import total of 129,195 mt.
After becoming the second-largest buyer of US bulk scrap, Korea has limited its US buys since May, with market sources debating whether the reduction is a reflection of a long-term strategy for mills in the country.
The fifth- and sixth-largest buyers of US scrap in July were North American trade partners, Canada (62,282 mt) and Mexico (60,274 mt).
US scrap exports to China (55,459 mt) and India (51,527 mt) continued to remain well below historical levels. Also in July, the US exported its first bulk scrap cargo (about 42,000 mt) to Saudi Arabia since November 2012.
