USA's copper scrap exports fell in 2023

USA's copper scrap exports fell in 2023

 The United States is the leading exporter of copper, waste and scrap. Although, the USA's copper scrap exports declined by 5% during last year. According to the US import export data, the country's overall copper scrap exports were recorded to be $5 billion dollars in 2023. The United States accounts for over 15% share of the global copper scrap market. 

In 2023, the biggest market for USA's scrap copper exports was China which amounted for 37% market share. The US export data shows that over 360,936 tonnes of scrap copper shipments were recorded for China in 2023. Whereas, Canada was the second leading market for scrap copper exports with over 105,700 tonnes of shipments in 2023. 


As compared to 120,364 tonnes shipments in 2022, there was a significant decline in the US scrap copper exports to Canada. India, Malaysia, Thailand and South Korea were other major markets for USA's scrap copper exports. There was a notable growth in the exports to India (80 MMT), Malaysia (78 MMT), Thailand (74 MMT) and South Korea (43 MMT) during last financial year.


Cambridge-lee Industries, Kataman Metals and Greenland America were the biggest copper scrap export companies from the USA responsible for the maximum number of shipments in the last fiscal year. Royal Eagle Green Commodities from Thailand, Ecovery from Canada, Jain metals from India, UJU Electronics from South Korea were some of the top scrap copper import companies from the United States.


On the other hand, the USA was the 7th leading scrap copper importer in the world. The US import data shows $780 million worth of scrap copper imports were recorded during last year. Mexico, Canada and India were among the biggest markets for the USA's scrap copper exports in 2023. Mexico held over 47% market share followed by China (27%), India (8.5%), Canada (2.2%), and Taiwan (2%). 


Among the fastest growing markets for US scrap copper imports were Dominican Republic, United Kingdom, Honduras and Monaco. Elvalhalcor, Stericycle Environmental and Colt Refining were the leading US companies for scrap copper imports. Whereas, among top scrap copper suppliers were Kataman Metals (Mexico), Prime Fortune Houseware (China) and Schnitzer Steel Industries (United Kingdom).


The United States is the biggest player in the scrap metals industry. With the rising demand, the country’s scrap metal industry will evolve further. It is one of the most profitable industries to invest in. Currently, China, Germany and South Korea are the top importers of scrap copper. Through global import export data provider, US companies can extend their scrap metals exports by reaching out to the genuine buyers from the international market.


With their global trade database, US companies can identify top selling scrap metals items by hs code, price, quantity, top trading destinations, ports container volumes, market risks, trends, forecasts, competitors, top import and export companies. It will allow US companies to extract product demand, plan pricing and filter out potential customers for their business. Data is the most productive and cost-effective way to expand in the international market.

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