Vietnam, one of the leading ferrous scrap importers, witnessed a sharp fall in ferrous scrap imports in Oct’19, as it imported 449,577 MT of scrap in the month, down by 36 % M-o-M as compared to 700,227 MT scrap imported in Sept’19, according to the recent data released by the customs department. On a yearly basis too, scrap imports recorded a significant decrease by 16 % Y-o-Y from 533,800 MT scrap imported during the same period a year ago.
Japan remained the largest supplier of scrap to Vietnam, occupying a 53% share in total scrap imported by the country in Oct’19, supplying 240,204 MT in the month, up by 12 % M-o-M as compared to 214,766 MT scrap recorded in Sept’19.
Notably, USA one of the top suppliers to Vietnam witnessed an 89% drop in ferrous scrap exports to the country in Oct’19, exporting just 45,055 MT during the month as against 382,547 MT exported Sep’19, with its percentage share dropping staggeringly from 55% to just 9%.
Australia occupied the second position with a 13% share as it exported 57,022 MT scrap in Oct’19, observing a sharp growth by 90 % M-o-M. Other major exporters were Hong Kong and Taiwan, supplying a decent quantity of 45,055 MT (down by 7% M-o-M) and 26,131 MT occupying 10% and 6% share respectively.
Leave a Reply