Aluminum scrap exports hit 4-year high
While the United States and China engage in a trade war that seems to have no immediate end in sight, the scrap metal market is in a wait and see mode for some kind of direction. However, while the trade war continues, October produced some significant aluminum scrap export numbers, resulting in exports hitting a 4-year high. While aluminum scrap exports to China have dropped almost 40% because of the ongoing trade war, other countries such as South Korea, Mexico, Malaysia and India have picked up the slack pushing the October numbers to the 4-year highs. Whether these export numbers can remain is yet to be determined but with a potential US economic slowdown in 2019 along with uncertainty on the trade talks, the aluminum scrap export numbers may have peaked.