U.S. scrap imports hit a new 8-year high

US scrap imports totaled 3.4mt in 2017, up 4% from a year earlier, the highest level in eight years since 2006. At the same time, as the world's largest exporter of scrap, 2014 scrap exports 15

US scrap imports totaled 3.4mt in 2017, up 4% from a year earlier, the highest level in eight years since 2006. Meanwhile, as the world's largest exporter of scrap, scrap exports in 2014 were 15.32 million tons, the lowest since 2006.

In January of this year, the United States imported 451,200 tons of scrap steel, the best month to import since July 2006. The sharp increase in US scrap imports mainly benefited from the appreciation of the U.S. dollar and Nucor's overhaul of DRR equipment. The major sources of imports were the United Kingdom, Sweden, the Netherlands, Canada and Mexico.