Vietnam: Ferrous Scrap Imports Increase Marginally in Oct’17

Australia’s ferrous scrap exports to Vietnam increase more than twice in Oct’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 marginal rise in its ferrous scrap imports by 3% M-o-M in Oct’17.The country imported 0.33 MnT ferrous scrap in Oct’17, While imports were at 0.32 MnT in Sept’17 to Vietnam.

During first ten months of CY17(Jan-Oct’16), Vietnam has imported 3.15 MnT ferrous scrap which has grown by 9% Y-o-Y compared with 2.89 MnT ferrous scrap imports during the same time period of CY16.

Likely, Vietnam’s ferrous scrap imports in Oct’17 raised up by 10% Y-o-Y against 0.30 MnT imports in Oct’16.Vietnam had imported 0.98 MnT ferrous scrap during Q3-CY17 up 9% Q-o-Q against 0.90 MnT during Q3-CY16.

Vietnam’s rising crude steel production – The country increased it’s crude steel production significantly up by 74% to 6.48 MnT during Jan-Sept’17, against 3.72 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-Oct’17, Japan exported highest 1.23 MnT ferrous scrap to Vietnam occupying highest 39% share in total ferrous scrap imports to Vietnam.

Hong Kong remained 2nd largest exporter with 0.58 MnT ferrous scrap exports to Vietnam followed by United States (0.50 MnT), Australia (0.41 MnT) and Singapore (0.16 MnT) respectively during first ten months of CY17.

In Oct’17, Japan and Australia exported 0.08 MnT ferrous scrap each followed by Hong Kong and United States which have exported 0.07 MnT each to Vietnam. Australia hiked exports by 167% M-o-M in Oct’17 against 0.03 MnT ferrous scrap exports in Sept’17.

Other major ferrous scrap exporters were Singapore, Philippines and Cambodia suppling each 0.01 MnT ferrous scrap to Vietnam in Oct’17.

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

In CY16, total 2,45,000 MT ferrous scrap exported from Japan through monthly scrap export tender-‘Kanto Tetsugen’ out of which Vietnam had lifted highest share of 89% (2,20,000 MT).During CY14-16, Vietnam occupied 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 –

Quantity In MnT,
Source: SteelMint Stats