Vietnam, one of the leading ferrous scrap importer witnessed a sharp increase in ferrous scrap imports in CY’19 and was recorded the highest volume at 5.2 MnT during the year, increasing by 8% Y-o-Y as against 4.8 MnT of scrap imported in CY’18.
Imports from Japan up 42%– Japan remained the largest scrap exporter with a 42% share of total scrap imported by Vietnam during the CY’19, as it exported 2.2 MnT in CY’19, increasing by 42% Y-o-Y. Another major exporter was the USA, as it exported 1.24 MnT of scrap in CY’19, up by 19% Y-o-Y with a 24% share.
On a monthly basis, ferrous scrap imports to Vietnam increased by 47 % M-o-M in Dec’19, after recording a fall in the previous two successive months. The country imported at 0.47 MnT of scrap in the month, as compared to 0.32 MnT imported in Nov’19, as per the recent data released by the country’s customs department.
On a yearly basis, scrap imports slightly decreased by 4% Y-o-Y from 0.49 MnT imported during the same period a year ago in Dec’18.
The scrap imports from Japan have increased on a monthly basis, as it exported 0.26 MnT of scrap in Dec’19, increasing by 37% from 0.19 MnT exported in Nov’19. The prices of H2 scrap from Japan rose sharply all through the Oct’19, rising from USD 240/MT levels from the starting of the month to USD 265/MT levels by Oct end, thus prompting buyers to book actively at favorable prices for Dec’19 delivery.
Meanwhile, scrap imports from the USA moved down sharply on a monthly basis. The country exported only 0.02 MnT of scrap in Dec’19, decreasing by 67% M-o-M as against 0.06 MnT scrap exported in Nov’19.
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