US Copper Scrap Grew by 1.55% in 2022

The United States is the major copper scrap market. For the fiscal year 2022, the United states was the leading copper scrap exporter in the world. According to the US customs data, US scrap copper exports were valued around 4.5 billion US Dollars in 2021.

US copper scrap exports grew at a rate of 1.55% in 2022. In the financial year 2022, US copper scrap exports were worth 5.2 billion US Dollars. China was the top importer of USA's copper scrap. China contributed around 31% share of USA's total copper scrap exports. In 2022, China imported around 323K tonnes of copper.

As per our US export data reports, other major copper scrap importing countries from the USA were India, Malaysia, Turkey, Belgium, Mexico, Thailand, Greece, Hong Kong and South Korea. On the other hand, US scrap copper imports declined in 2022. According to the US import data, the USA's total scrap copper imports were totaled to be 988M US Dollars.

Canada, Mexico, Saudi Arabia and Costa Rica were the fastest growing copper scrap exporters market to the United states. Latest market trends suggest that in the first month of 2023, around 378 million US Dollars copper scrap exported from the United States.

The majority of the exports were to China, Canada, South Korea, Belgium and Japan. While imports had seen a decline of 6% in January 2023. According to the US import export data, Germany and the United Arab Emirates are becoming the fastest growing markets for USA copper scrap exports for the fiscal year 2023.

Top Copper Scrap Markets

According to the global trade data, Germany is the second largest copper scrap export market after the United States. Germany copper exports were worth around 4.6 billion Euros in 2022. The Netherlands was the biggest importer of scrap copper from Germany followed by Italy, Turkey and India.

Japan is the third largest copper scrap exporter in the world. In 2022, Japan's copper scrap exports were reduced to 22%. Japan's copper scrap exports were around 2 billion US Dollars with the majority of the exports to China, Malaysia, South Korea, Hong Kong and Taiwan. While France and the United Kingdom were respectively 4th and 5th largest copper scrap markets in the world.

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