Vietnam: Ferrous Scrap Imports Up 45% M-o-M in Aug’17

Vietnam is one of the world’s emerging markets in terms of steel industry. The country increased its crude steel production to 5.11 MnT during Jan-Jul’17, up 83% against 2.79 MnT steel produced during the same time frame in CY16.

As per recently released customs data, Vietnam has seen rise in its ferrous scrap imports by 45% M-o-M in Aug’17.The country registered 0.39 MnT ferrous scrap imports in Aug’17, while it had imported 0.27 MnT ferrous scrap in Jul’17.

During first eight months of CY17, Vietnam has imported 2.50 MnT ferrous scrap which has summed up 10% higher compared with 2.28 MnT ferrous scrap imports during the first eight months of CY16.(Jan-Aug’16)

Likely, Vietnam’s ferrous scrap imports in Aug’17 elevated up by 26% Y-o-Y against 0.31 MnT imports in Aug’16.

Japan remained preferred source for Vietnam ferrous scrap imports –

In Aug’17, all major exporters of ferrous scrap to Vietnam have witnessed a rise in their scrap export volumes. Japan exported highest 0.20 MnT ferrous scrap to Vietnam followed by Hong Kong which has exported 0.07 MnT in Aug’17.

United States and Australia each exported 0.05 MnT ferrous scrap to Vietnam in Aug’17 hiked by five folds against 0.01 MnT ferrous scrap exports each in Jul’17.

During the period of Jan-Aug’17, Japan exported 1.02 MnT occupying highest share of 41% in total ferrous scrap imports in Vietnam.

Hong Kong remained 2nd largest exporter with 0.45 MnT ferrous scrap exports in Vietnam during first eight months of CY17, followed by United States (0.37 MnT), Australia (0.30 MnT) and Singapore (0.13 MnT) respectively.

Vietnam remained 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.