Vietnam Ferrous Scrap Import Statistics: Aug'19

Vietnam, one of the leading ferrous scrap importers witnessed a significant rise in ferrous scrap imports in Aug'19, majorly on increased shipments from Japan and United States.

Vietnam's ferrous scrap imports were registered at 0.6 MnT in the month, increased by 30% M-o-M as against 0.46 MnT of ferrous scrap registered in July'19, the recent data released by the country's customs department.

On yearly premises too, scrap imports registered a rise of 39% Y-o-Y from 0.43 MnT scrap imported in Aug'18.

Notably, Vietnam's imported scrap volume for Aug'19 is highest in 2019, as prior to this highest volume at 0.59 MnT scrap was registered in April'19

Vietnamese buyers actively booked Japanese scrap for the August shipments on drop in export offers. Offers to Vietnam were witnessed to decrease by USD 5-10/MT in Jul'19, with Japanese H2 bulk scrap offers were hovering equivalent to USD 295-300/MT, CFR Vietnam, while US origin bulk HMS 1&2 mix scrap offers in the range USD 310-315/MT, CFR Vietnam in July'19.

Country-wise: Japan remained the largest supplier to Vietnam as it exported 0.24 MnT ferrous scrap in Aug'19 with a share of 18% in total imports by Vietnam, witnessing a considerable rise by 20% M-o-M as against 0.20 MnT exported in July'19. Another top supplier USA too witnessed an increase in scrap exports to Vietnam by 72% M-o-M, as it supplied 0.19 MnT in Aug'19 with a 26 % share, against 0.11 MnT in July'19.

Followed by other top suppliers to Vietnam, Hong Kong (0.02 MnT), and Australia (0.01 MnT, down 82% M-o-M), with 8% and 3% share respectively.

Crude Steel Production of Vietnam witnessed a rise of 31% M-o-M with 1.77 MnT crude steel production was marked in July'19, as against 1.35 MnT of production in June'19. On a yearly basis, production has increased by 34% from 1.32 MnT registered in July'18, according to the World Steel Association.