Vietnam: Ferrous Scrap Imports Down 18% M-o-M in Sept’17

Vietnam is one of the world’s emerging market in terms of the steel industry. As per recently released customs data, Vietnam has seen fall in its ferrous scrap imports by 18% M-o-M in Sept’17.The country imported 0.32 MnT ferrous scrap in Sept’17, while it imported 0.39 MnT ferrous scrap in Aug’17.

The country increased its crude steel production to 5.70 MnT during Jan-Aug’17, significantly up by 77% against 3.22 MnT crude steel produced during the same time frame in CY16.

During first nine months of CY17, Vietnam imported 2.82 MnT ferrous scrap which has increased by 9% Y-o-Y compared with 2.59 MnT ferrous scrap imports during the same time period of CY16.(Jan-Sept’16)

Vietnam’s ferrous scrap imports in Sept’17 raised up marginally by 3% Y-o-Y against 0.31 MnT imports in Sept’16. Vietnam imported 0.98 MnT during Q3-CY17 up 9% Y-o-Y against 0.90 MnT during Q3-CY16 and up 3% as it was 0.95 MnT in Q2-CY17.

Japan remained preferred source for Vietnam ferrous scrap imports –

In Sept’17, Japan exported highest 0.13 MnT ferrous scrap followed by Hong Kong which has exported 0.07 MnT to Vietnam. United States and Australia exported 0.06 MnT and 0.03 MnT ferrous scrap to Vietnam in Sept’17 respectively.

During the period of Jan-Sept’17, Japan exported 1.15 MnT occupying highest share of 41% in total ferrous scrap imports in Vietnam.

Hong Kong remained 2nd largest exporter with 0.51 MnT ferrous scrap exports in Vietnam followed by United States (0.44 MnT), Australia (0.33 MnT) and Singapore (0.15 MnT) respectively during first nine months of CY17.

Vietnam remained the largest importer of Japan’s monthly scrap export tender –

In CY16, total 2,45,000 MT H2 ferrous scrap was exported from Japan through monthly scrap export ‘Kanto Tetsugen’ tender out of which Vietnam had lifted the highest share of 89% (2,20,000 MT).

Country-wise Vietnam ferrous scrap imports –

Quantity In MnT,
Source: SteelMint Stats