US copper scrap exports declined annually by 23.9p in May because of COVID-19-related shutdowns.
Scrap exports in May totaled 58,811mt, declinig from 77,242mt during the same month last year. Scrap exports through the first five months of the year totaled 301,217mt, decreasing by 21.5pc from the same period in 2019.
US copper scrap exports to China decreased because of import quotas set by authorities, while its exports to all other Asian countries also declined from a lack of demand after the pandemic forced facilities closed. Exports to China totaled 2,771mt in May, while exports to South Korea stood at 2,915mt. Shipments to Hong Kong were 1,254mt.
US copper scrap exported to Germany and the Netherlands totaled 1,841mt and 2,176mt, respectively, while Belgium led the global market with 8,833mt of copper scrap imported from the US
Total bare bright copper scrap exports fell by 27pc to 4,763mt in May from a year ago. Exports of #1 copper exports dropped by 23.5pc to 4,700mt, and #2 copper exports fell by 20pc to 7,059mt. Other copper scrap exports decreased by 27pc to 25,435mt in May from a year earlier.
Refined copper exports decreased on an annual basis in May by 17.7pc to 11,682mt.
US copper scrap imports in May declined by 55pc to 4,609mt from a year earlier, while year-to-date imports slipped by 1.7pc to 49,465mt.
Imports of refined copper declined by 58pc in May to1,140mt, and imports of other copper scrap fell by 54.9pc to 3,469mt.