Vietnam is one of the world’s emerging markets. The country increased its crude steel production to 4.42 MnT during H1 CY17, up 88% against 2.35 MnT steel produced during H1-CY16.
As per recent customs data , Vietnam has imported 0.27 MnT ferrous scrap in Jul’17, which were recorded 13 % lesser M-o-M as it had imported 0.31 MnT ferrous scrap in Jun’17.
Vietnam has imported 2.11 MnT ferrous scrap so far during Jan-Jul’17, which have summed up 7.1 % higher compared with 1.97 MnT ferrous scrap imports during the first seven months of CY16.
Likely, Vietnam’s ferrous scrap imports in the July month stood marginally less by 3.57 % Y-o-Y against 0.28 MnT imports in Jul’16.
Japan remained preferred source for Vietnam ferrous scrap imports:
In Jul’17, except Japan all other exporters have witnessed fall in their scrap export volumes to Vietnam.Japan exported highest 0.17 MnT ferrous scrap to Vietnam followed by Hong Kong which has exported 0.05 MnT in Jul’17.
United States sourced 0.01 MnT ferrous scrap again in Jul’17 which remained unaltered M-o-M against 0.01 MnT ferrous scrap exports in Jun’17.
Other major sources for ferrous scrap imports to Vietnam were – Australia, Singapore and New Zealand.
So far in CY17, Japan exported 0.82 MnT ferrous scrap occupying highest share of 39% in total imports in Vietnam followed by Hong Kong (0.38 MnT), USA (0.32 MnT), Australia (0.25 MnT) and Singapore (0.12 MnT) respectively.
| ExportCountry | Jul’17 | Jun’17 | M-o-M (%) | Jul’16 | Y-o-Y(%) | Jan-Jul’17 | Jan-Jul’16 | % Change |
| Japan | 0.17 | 0.09 | 88.88% | 0.15 | 13.33 % | 0.82 | 1.35 | -39.25 % |
| Hong Kong | 0.05 | 0.06 | -16.66% | 0.05 | 0 % | 0.38 | 0.29 | 31.03 % |
| United States | 0.01 | 0.01 | 0 % | 0.02 | -50 % | 0.32 | 0.07 | 357.1% |
| Australia | 0.01 | 0.07 | -85.71 % | 0.02 | -50% | 0.25 | 0.08 | 212.5% |
| Singapore | 0.01 | 0.02 | -50% | 0.01 | 0 % | 0.12 | 0.05 | 140 % |
| Others | 0.02 | 0.06 | -66.66 % | 0.03 | -33.33 % | 0.22 | 0.13 | 69.23 % |
| Total | 0.27 | 0.31 | -12.90 % | 0.28 | -3.57 % | 2.11 | 1.97 | 7.10 % |
Quantity In MnT
Source: Customs Data
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