Vietnam Ferrous Scrap Imports Rise 22% During Jan-Sep 2019

Vietnam, one of the leading ferrous scrap importers witnessed a considerable increase in ferrous scrap imports in Sept'19, as it imported at 700,227 MT scrap in the month, up by 17 % M-o-M as compared to 600,745 MT scrap imported in Aug'19, according to the recent data released by the country's customs department. On a yearly basis too, scrap imports recorded a sharp rise by 67 % Y-o-Y from 419,538 MT scrap imported during the same period a year ago.

Notably, according to data with SteelMint country's ferrous scrap imports rise by 22% during CY 19 (Jan -Sept) to 3,968,454 MT recorded as against 3,241,938 MT imported in preceding CY (Jan-Sept'18).

Country-wise: United States remained the largest supplier of scrap to Vietnam in Sep'19 as it supplied 382,547MT scrap in the month, up by 100% M-o-M against 191,376 MT exported in Aug'19. On the other hand in CY (Jan-Sept'19) country witnessed a significant increase in exported ferrous scrap with 1,111,311 MT up by 68% Y-o-Y as compared to 660,725 imports recorded during the same period a year ago (Jan-Sept'18).

Japan stood in the second position as it exported 214,766 MT in the month, down by 9% M-o-M as compared to 235,374 MT scrap recorded in Aug'19. Notably, Japan supplied the highest volume of ferrous scrap in CY19 (Jan-Sept) with 1,512,749 MT rise by 30% Y-o-Y as compared to 1,161,197 MT scrap imported by Vietnam in CY18 (Jan-Sept).

Followed by Hong Kong & Australia supplied a decent quantity of scrap in the Sep'19, with 48,229 MT (up by 102% M-o-M) & 30,025 MT (up by 156% M-o-M) respectively.

Quantity in MT
Source- SteelMint Stats & Customs Data