Actual ounces of gold-ounce transfers fell 19.7% to a daily average of 17.5 million ounces in July from the previous month, the London Bullion Market Association has reported. The number of transfers fell to a daily average of 1,545, a drop of 6.3%.

The clearing statistics measure how much of the precious metal is transferred on a net basis between the accounts held at the bullion clearinghouses. So, based on an average price fixing of $665.30/ounce in July, the value fell to a daily average of $11.7 billion from $14.3 billion the previous month.

Measured year-on-year, LBMA gold statistics were mostly lower. Ounces transferred have fallen by 24.6% through July while value is 20.4% lower—even though the number of transfers has increased 11.1%.

Meanwhile, ounces transferred in silver rose 2.2% to a daily average of 114.9 million. Based on an average fixing of $12.909/ounce, value remained unchanged at a daily average of $1.48 billion. The number of transfers fell 10.7% to a daily average of 449. Measured year-on-year, silver statistics also are lower. Ounces transferred fell 32.2% and value dropped 22.1% while the number of transfers rose 18.2%.

According to Census Bureau statistics, the U.S. imported 2.35 million net tons of rebar in 2006, up from 1.29 million tons the previous year, an increase of approximately 82%.