Vietnam’s ferrous scrap imports climbed by 24pc to 2.55mn mt from January-May 2021, compared to 2.05mn mt in the same period of 2020, according to Vietnam Customs data.
The country’s ferrous scrap imports increased by 109pc in May 2021 to 708,326mt from 338,268mt during the same month last year. Imports also rose 18pc this May from 599,078mt, in April 2021.
Of the total imports, 277,641mt was shipped from Japan, making it the biggest exporter. The US sent 126,371mt, Australia exported 73,535mt and Hong Kong shipped 46,839mt of ferrous scrap to Vietnamese ports.
Iron and steel imports grew by 9pc from January-May 2021 to 5.97mn mt compared to 5.45mn mt in the same period of 2020.
In contrast, imports of this commodity fell 9pc in May 2021 to 951,632mt from 1.04mn mt in the same month 2020. Iron and steel imports also dropped 31pc this May from 1.36mn mt in April 2021.
Vietnamese iron and steel exports grew 64pc in the first five months of 2021 to 4.63mn mt from 2.81mn mt in January-May 2021.
The country’s imports rose 129pc in May 2021 to 979,927mt from 426,991mt in the fifth month of 2020. On the other hand, exports declined 4pc in May from 1.02mn mt in April 2021.