Vietnam’s ferrous scrap imports in January stood at 384,524mt, up by 15pc from Jan 2020. From the preceding month, imports declined by 47pc. The increase in imports was driven by a revival in the economy after the pandemic.
Japan was the largest exporter of ferrous scrap with 177,175mt, up by 24pc from 143,203mt in January 2020. Vietnamese mills preferred scrap in bulk amid container shortage and vessel delays resulting in elevated freight rates.
The country bought limited containers of scrap at competitive rates from South and Central America. Exports from Chile rose by 378pc in the month to 9,599mt from 2,008mt n prior year month.
|Vietnam Ferrous Scrap Import Jan’21|
|Exporting Country||January’21||December’20||% Change M-o-M||January’20||% Change Y-o-Y|
|United States of America||78,243||1,93,462||-60%||54,117||45%|
For immediate requirements, Vietnamese mills sourced material from Hong Kong, which exported 49,405mt of scrap in January 2021, up by 3pc from January 2020.