US copper scrap exports declined by 6.3pc in June from a year earlier, showing initial signs of recovery with a 20pc rise from May, as restrictions associated with the COVID-19 pandemic lifted globally.
Scrap exports for June were 62,289mt, from 66,486mt in the same month in 2019, according to the latest trade data from the US Census Bureau. Scrap exports for H1 2020 totaled 363,506mt, down by 19.3pc from the first six months in the prior year.
US copper scrap exports to China doubled from the prior month after scrap import quotas were approved by the major consumer, while exports to other Asian destinations continued to increase.
Exports to China in June stood at 4,166mt, while those to South Korea tallied at 2,149mt. Meanwhile, Greece was the third-largest importer of copper scrap at 1,265mt.
Compared to May, bare bright copper scrap exports fell 2pc to 4,670mt in June. Exports of #1 and #2 copper inclined by 19pc to 5,589mt and 8,394mt, respectively. Other copper scrap exports surged almost 2.5 times to 62,289mt.
Refined copper scrap exports increased by 28pc to 14,944mt in June.
US copper scrap imports in June declined by 25.3pc from a year earlier to 5,413mt. Year-to-date, imports fell by 4.7pc to 54,879mt.
Imports of refined copper scrap fell by 14pc to 1,759mt in June, from the same month in 2019. Other copper scrap imports decreased by 29.5pc to 3,654mt in the same period.