Scrap Recycling and the US Economy

Trade is a very important part of the U.S. economy. The scrap industry makes substantial contribution to the U.S. balance of trade by exporting 230 billion dollars in products to over 55 countries. In 2012 the scrap industry exported more than 47 million tons of steel, the majority of which went to China, Canada, and South Korea. The steel is then reshaped, repurposed and sent all over the world, continuing the cycle. When you buy steel you are always buying recycled. Because steel products can be recycled repeatedly without loss of strength, this is a mutually beneficial trade which can continue for many years to come.