US copper scrap exports fall in March on Covid-19
US copper scrap exports fell in March from the same time last year as the spread of Covid-19 in Asia cut into demand from the region.
Total US exports of bare bright, #1 and #2 copper scrap data-x-items for March were 19,600t, down by 18pc from the prior year period, according to US Commerce Department data. Shipments for the first quarter of 2020 were 61,000t, down by 7pc from the prior year as Covid-19 containment efforts impacted Asian demand and slowed exports.
US exports of bare bright copper scrap rose by 19pc to 6,100t in March from a year earlier. For the first quarter US bare bright exports rose by 51pc to 18,700t this year.
China received the most bare bright scrap shipped from the US in March with 2,015t, but still a decrease of 29pc year over year as coronavirus lockdowns slowed shipments.
Greece had the second largest tonnage of bare bright shipped from the US for the month with 1,100t, up from 200t the prior year. South Korea came in third with 500t, a 38pc year on year increase.
Exports of #1 copper scrap fell by 32pc to 5,600t for March compared to the prior year. First quarter US #1 copper scrap exports dropped by 33pc to 16,160t.
Germany led the way with 1,800t of #1 copper scrap from the US for the month but down by 8pc from the prior year period. South Korea was second at 1,500t, a 15pc increase from a year earlier.
Exports from the US of #1 copper scrap fell the hardest to several Asian countries for March compared to a year earlier. Shipments to Taiwan fell by 98pc to 24t while exports to China and Japan both dropped by 94pc to 30t and 18t, respectively.
Shipments of #2 copper scrap fell by 26pc from last year to 7,900t for the month. Exports of #2 copper scrap for the quarter fell by 11pc to 26,000t.
Asian countries had the largest losses in US #2 scrap imports for the month with Hong Kong having the biggest decrease. US exports to Hong Kong dropped by 92pc year over year to 44t for March. China was second with a total of 1,500t, falling by 66pc from a year earlier. Exports of #2 scrap to Japan fell by 62pc to 516t. Belgium led all destinations at 1,660t, up by 189pc year over year.
By Mike Hlafka
source: Argus Media
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