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: mt | Nov-20 | Nov-19 | % Change YoY | Oct-20 | % Change MoM | Jan-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 |