Vietnam, one of the leading ferrous scrap importers in Asia, observed an upturn in its ferrous scrap imports by 27% m-o-m in Jun ’20. The country imported 0.43 mn t in Jun ’20 as compared to 0.34 mn t imported in May ’20, according to the data maintained with SteelMint.
Similarly, on a yearly basis, import volume has increased by 23% y-o-y from 0.35 mn t during the same month in the previous year.
Japan remained the largest ferrous scrap exporter to Vietnam with 56% of share in total scrap imported by Vietnam in June ’20. The country has imported 0.24 mn t in Jun ’20, increasing significantly by 40% m-o-m as against 0.17 mn t registered in May ’20 from Japan. Japanese H2 scrap offers to Vietnam, started decreasing in the middle of the Mar ’20 till first half of the Apr ’20, encouraging the Vietnamese buyers for active booking for Jun ’20 delivery.
On the other hand, the country has increased its scrap exports sharply by 91% y-o-y in Jun ’20 as it had exported 0.12 mn t in Jun ’19.
Other major suppliers such as USA and Hong Kong exported 0.05 mnt and 0.04 mnt of scrap in Jun ’20 respectively. Also, It was observed that there is a decline in scrap imports by 31% m-o-m from the USA.
Notably, Taiwan has exported a decent volume of scrap at around 23,400 t (0.02 mn t) of scrap in Jun ’20 with inclining manifolds against just 102 t exported in the previous month. Another supplier was Australia, as it supplied 0.03 mn t in Jun ’20 (down by 25% m-o-m).
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