US copper scrap exports increased by 3.7pc in July from a year earlier, and by 18pc from June, according to latest trade data from the US Census Bureau. Scrap exports for the first seven months of the year totaled 436,973mt, decreasing by 16pc from the same period last year.
US copper scrap exports to China surged by 63pc from the month prior, after the latter approved another batch of scrap import quotas, while exports to other Asian destinations continued to increase.
Exports to China in June totaled 6,817mt, while Malaysia received 1,800mt. South Korea was the third-largest importer of copper scrap at 1,719mt.
Compared to July 2019, bare bright copper scrap exports rose by 53.2pc to 8,110mt, while #1 and #2 copper exports declined by 32pc and by 9pc to 3,715mt and 8,922mt, respectively. Other copper scrap exports decreased by 2pc to 31,408mt. Refined copper scrap exports increased by 25.7pc to 15,190mt in July.
US copper scrap imports in July declined by 14.7pc from a year earlier, totaling to 6,824mt. Year-to-date imports also decreased by 5.9pc to 61,703mt. Imports of refined copper scrap fell by 15.4pc to 1,844mt in July from the same month in 2019. Other copper scrap imports decreased by 14.5pc to 4,979mt during the period under comparison.