US copper scrap exports increased by 2.1pc in January from a year earlier on surging volumes to China, while scrap imports were 13.4pc higher.
Scrap exports for January tallied at 64,038mt 2.1pc higher than the same time last year, according to the latest trade data from the US Census Bureau.
China, with shipments tallying at 5,112mt was the top importer of US copper scrap in January. Other key importers included South Korea, Malaysia, and Germany with shipments from the US at 2,183mt, 1,818mt, and 1,262mt, respectively.
Exports of #1 copper witnessed a steep decline of 39pc from January 2020 to 2,975mt in the same month this year. Total bare bright copper scrap exports were down 14.8pc to 5,226mt and exports of #2 copper were 10.1pc lower at 8,782mt during the same period. Refined copper shipments were 28pc higher at 18,704mt in January compared to the same month last year.
US total copper scrap imports in January increased by 13.4pc to 8,292mt from a year earlier. A majority of imports were from other copper scrap sources at 6,498mt in January, a 25pc increase from the same month last year.