Vietnam’s ferrous scrap imports in April rose by 19.8pc from April 2019 to 401,055mt but fell by 19.8pc from March on the back of low finished steel sales. In March, the Vietnamese government announced stringent social distancing measures to control the spread of COVID-19. The resulting lockdown impacted production and demand for steel. Downstream industries too remained shut.
These measures were relaxed from April end after which Vietnamese mills returned to the ferrous scrap import market. According to Davis Index sources, bookings remained healthy in mid-May. In the May 5-15, 2020 period, Vietnam imported 202,461mt of ferrous scrap, up from 184,625mt in the prior-year period.
Country wise April ferrous scrap imports