US exports of recycled materials by tonnage have fallen by 7.4% so far this year but have increased in dollar terms compared to the same period in 2023.

The picture has been pulled together by ReMA from the latest trade data issued by the US Commerce Department.

For the year-to-date until the end of July, US recycled material exports declined 7.4% year-on-year by quantity to 18.4 million tonnes but increased 3.4% in dollar terms over the same period to US$ 16.9 billion.

Recycled materials include ferrous and non-ferrous metals, paper, plastics, textiles, tyre and rubber, glass and electronics.

Higher prices

Higher commodity prices for non-ferrous and paper this year supported the export gains in dollar terms. In terms of quantity, however, fewer exports of recycled paper (-14.9%), ferrous (-4.0%), and stainless and alloy steel (-23.1%) were the largest contributors to the year-to-date decline.

For July 2024 alone, exports of all recycled materials were 2.6 million tonnes, down 0.8% when compared to June but up 12% on July 2023.

ReMA’s latest weekly market report notes that, despite stronger demand from Turkey, exports of recycled iron and steel (excluding stainless and alloy steel) have declined 4% this year to less than 8.2 million tonnes. In dollar terms, exports have fallen 3.3% to US$ 3.6 billion.

‘Gains to Turkey (+11.6%), Bangladesh (+35%), and Peru (+11.9%) have been more than offset by reduced demand from Mexico (-19.5%), Canada (-19.4%), Thailand (-29.1%), and Vietnam (-60.8%) amid ongoing concerns that Chinese semi-manufactured steel products are displacing demand for recycled steel in several key markets,’ says ReMA.

Copper ‘bright’

It adds: ‘Overseas demand for US recycled copper has been a bright spot on the trade front this year, with US exports up 10.8% year-on-year by quantity to 543 209 tonnes and up 16.7% to just over US$ 3 billion.’

Aluminium by contrast declined 0.2% year-on-year to 1.2 million tonnes but generally higher prices this year pushed exports 3.3% higher to US$ 2.4 billion.

Paper exports by tonnes are down 6.1% this year but rose 6.5% in July compared to July 2023.

Courtesy : recyclinginternational.com