Japan’s ferrous scrap exports to Vietnam increase more than twice in Nov’17.
Vietnam is one of the world’s sharply emerging market in terms of steel industry. As per recently released customs data, Vietnam has seen the rise in its ferrous scrap imports by 15% M-o-M in Nov’17.The country imported 0.38 MnT ferrous scrap in Nov’17, while imports were at 0.33 MnT in Oct’17.
This is country’s 2nd largest monthly scrap imports in CY17. Highest volume was recorded at 0.39 MnT in Aug’17.
During first eleven months of CY17(Jan-Nov’17), Vietnam has imported 3.53 MnT ferrous scrap which has grown by 8% Y-o-Y compared with 3.26 MnT ferrous scrap imports during the same time period of CY16.
Vietnam’s rising crude steel production – According to World Steel Association data, The country increased its crude steel production significantly up by 70% to 7.92 MnT during Jan-Oct’17, against 4.66 MnT crude steel produced during the same time frame in CY16. The country’s increased ferrous scrap imports can be attributed to rising steel production.
Japan continued to remain preferred source of ferrous scrap to Vietnam –
During Jan-Nov’17, Japan exported highest 1.40 MnT ferrous scrap to Vietnam occupying highest 39% share in total ferrous scrap imports to Vietnam.
Hong Kong remained 2nd largest exporter with 0.63 MnT ferrous scrap exports to Vietnam followed by United States (0.56 MnT), Australia (0.45 MnT) and Singapore (0.17 MnT) respectively during first eleven months of CY17.
In Nov’17, Japan exported highest 0.17 MnT ferrous scrap to Vietnam followed by Hong Kong and United States which have exported each 0.06 MnT and 0.05 MnT respectively. Australia exported 0.04 MnT ferrous scrap to Vietnam in Nov’17.
Other major ferrous scrap exporters to Vietnam in Nov’17 were Singapore, Philippines, Canada and Cambodia.
Vietnam remained the largest importer of Japan’s monthly scrap export tender –During 2014-16, Vietnam occupied highest 73% share with 546000 MT out of 748000 MT ferrous scrap exports carried through monthly scrap export tender ‘Kanto Tetsugen’ from Japan.
Country-wise Vietnam ferrous scrap imports –
| Country | Nov’17 | Oct’17 | M-o-M % Change | Nov’16 | Y-o-Y % Change | Jan-Nov’17 | Jan-Nov’16 | % Change |
| Japan | 0.17 | 0.08 | +112.50% | 0.13 | +30.77% | 1.40 | 1.86 | -24.73% |
| Hong Kong | 0.06 | 0.07 | -14.29% | 0.06 | 0.00% | 0.63 | 0.45 | +40.00% |
| United States | 0.05 | 0.07 | -28.57% | 0.10 | -50.00% | 0.56 | 0.29 | +93.10% |
| Australia | 0.04 | 0.08 | -50.00% | 0.02 | +100.00% | 0.45 | 0.25 | +80.00% |
| Singapore | 0.02 | 0.01 | +100.00% | 0.03 | -33.33% | 0.17 | 0.14 | +21.43% |
| Others | 0.04 | 0.02 | +100.00% | 0.02 | +100.00% | 0.32 | 0.27 | +18.52% |
| Total | 0.38 | 0.33 | +15.15% | 0.36 | +5.56% | 3.53 | 3.26 | +8.28% |
Quantity In MnT,
Source: SteelMint Stats
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