US copper scrap exports increased by 5.1pc in January-February compared to the same two months a year ago, according to the US Census Bureau data, on higher shipments to Asia.
Scrap exports in the first two months of the year rose to 131,366mt from 124,947mt in January-February 2020. In February, US copper scrap exports increased by 8.2pc to 67,328mt from 62,204mt in the same month last year.
China remained the biggest importer of copper scrap from the US with total shipments to the Asian nation tallying at 4,069mt in February, though they declined by 1,043mt from the previous month’s shipments. Exports to South Korea increased monthly to 2,213mt in February, while Malaysia’s imports of US copper scrap surged by 6,572mt to 8,390mt during the same period.
Germany remained the top European importer of US copper scrap at 7,140mt in February, followed by Greece, which imported 3,658mt. With shipments of 2,103mt, Mexico was the only North American country to import copper scrap from the US during the month under review.
Total refined copper shipments from the US increased by 54pc to 20,034mt from 13,015mt during the same month of 2020. Bare bright exports, on the other hand declined by 22.4pc in February to 5,017mt from 6,462mt during the same month last year.
Exports of #1 copper fell in February by 32.8pc to 3,820mt on an annual basis while shipments of #2 copper rose by 10.2pc to 9,202mt from 8,353mt in February 2020. Exports of other copper grades also inclined by 2.9pc to 23,948mt in February from 23,367mt in the same month last year.