Minerals and Metals

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Exports, Imports and Trade Balance

Key Trends

• The trade deficit in minerals and metals grew by 16 percent to $86.6 billion in 2006 as imports continued to outpace exports. The growth in both imports and exports resulted from increases in price more so than volume.
• China surpassed Mexico as the second-largest trading partner in minerals and metals, behind only Canada. China's rising demand for raw materials in support of its rapidly expanding economy continued to exert strong upward pressure on global prices of mineral and metal commodities.
• Precious metals and non-numismatic coins accounted for over a quarter of the $20.0 billion increase in U.S. exports of minerals and metals.
• More than half of the increase in U.S. imports of minerals and metals was accounted for by steel mill products, copper and related articles, and precious metals.

Trade Shifts in 2006 from 2005

• U.S. trade deficit: Increased $12.1 billion (16 percent) to $86.6 billion
• U.S. exports: Increased $20.0 billion (32 percent) to $82.9 billion
• U.S. imports: Increased $32.1 billion (23 percent) to $169.5 billion

USITC Publications

• Refined Copper Cathodes and Sections Thereof," Advice on Providing Possible Modifications to the U.S. Generalized System of Preferences, 2006 Review, Inv. No. 332-483, Publ. No. 3919, U.S. International Trade Commission, Office of Industries, Washington, DC, Apr. 2007, pp. 7-1 to 7-5.
• Certain Unalloyed Copper Wire Rod," Advice on Providing Possible Modifications to the U.S. Generalized System of Preferences, 2006 Review, Inv. No. 332-483, Publ. No. 3919, U.S. International Trade Commission, Office of Industries, Washington, DC, Apr. 2000, pp. 8-1 to 8-6.
• Tsuji, Karl, & Webster, Judith-Anne. (2006): "Aluminum," The Effects of Increasing Chinese Demand on Global Commodity Markets, Staff Research Study No. 28, Publ. No. 3864, U.S. International Trade Commission, Office of Industries, Washington, DC, June 2006, pp. 3-1 to 3-14.
• "Unwrought Aluminum," chapter contained in Sub-Saharan Africa: Factoring Trade Patterns of Selected Industries, Investigation No. 332-477, Publ. No. 3914, U.S. International Trade Commission, Office of Industries, Washington, DC, April 2007, pp. 3-52 to 3-61.