According to latest statistics released by the
Institute of Scrap Recycling Industries (ISRI), the US scrap recycling sector
earnings hit $43 billion during the entire year 2014. The ISRI annual report
stated that non-ferrous scrap recycling accounted for almost 50% of the
earnings. The report states that 2014 was an extremely busy and productive year
for the US scrap recycling industry.
The total value of scrap exports by the US during
2014 amounted to $23.7 billion. The quantity of ferrous scrap exports totaled
17.3 million tonnes, followed by aluminum scrap (1.9 million tonnes) andcopper scrap (1.2 million tonnes). The
US also exported 1.2 million tonnes of Nickel, stainless steel and alloy scrap
during 2014.
The ISRI report also focuses on the achievements made
by Sims Metal Management during the year. The company’s earnings surged higher
significantly during the second half of the year upon implementing new sourcing
techniques to buy raw materials after booking an order. The profits of the
company soared nearly 35% during the six-month period despite recording 6% drop
in sales. In fact, ferrous and nonferrous scrap sales volumes during the
six-month period dropped 10.2% from 6.1 million tonnes in July to December in
2013 to 5.5 million tonnes during the same period last year. Ferrous scrap
sales volumes saw a dip of 10.6% during the period.
Meantime, the US scrap imports in 2014 hit highest
levels in eight years. The country imported 3.4 million tonnes of scrap during
the year, 4% higher when compared with a year ago.
Source- Metal prices.com