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|