Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Vietnam’s ferrous scrap imports from Japan in November soared by 92pc to 354,566mt from a year ago and by 10pc from October indicating preference to Japanese suppliers. Vietnamese mills are very price sensitive and the rise of US-origin scrap prices pushed buyers to opt for domestic and Japanese scrap. In November, US-based mills supplied 75,141mt scrap to Vietnam, up 24pc from a year ago, while down 28pc from October amid high offer prices. 


In November, Vietnam imported 524,326mt ferrous scrap, up by 66pc from a year ago, but down 5pc from October. In the Jan-Nov period, imports rose by 7pc to 4.97mn mt from the prior period.


Ferrous scrap imports from Australia have significantly increased in the past few months from a year ago, but in November they have dropped by 59pc to 21,071 from October, while still up by 313pc from a year ago. 


Buying for Hong Kong-based yard spiked by 79pc in November from the prior year and also rose by 51pc from October indicating increased deals from traders.

Vietnam’s ferrous scrap imports in November
Unit: mtNov-20Nov-19% Change YoYOct-20% Change MoMJan-Nov ’20% Change YoY
Japan   3,54,566    1,85,023 92   3,21,095 10    30,66,488 59
US      75,141       60,835 24   1,03,683 -28      7,28,731 -40
Hong Kong      45,877       25,604 79      30,471 51      3,63,910 8
Australia      21,071          5,108 313      51,888 -59      2,84,331 -38
Cambodia         9,819          7,090 38         9,595 2          73,704 47
Others      17,852       32,564 -45      37,507 -52      4,60,261 -31
Total   5,24,326    3,16,224 66   5,54,239 -5    49,77,425 7


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