Skip to main content

Vietnamese ferrous scrap imports in April free-fall

Vietnam’s April ferrous scrap imports shrank by 38% to 400 000 tonnes compared to the same month last year because of coronavirus-related restrictions.

Overall, January-April imports rose 20.5% to 1.8 million tonnes from a year earlier but, during April itself, they declined by almost 20% on March, reports Argus Metals Media based on Vietnamese customs data.

Vietnamese mill outlooks turned negative after the Covid-19 outbreak spread globally, making scrap procurement more cautious than early February. More mills ran at lower capacity in response to weakened demand during the pandemic.

Imports from Japan in April fell 9% from March but were up 56% on a year earlier. Japan’s market share of Vietnam’s imports surged to 60% in January-April from 38% during the same period last year. Imports from the US fell by 65% on the month.

Vietnamese buyers are minimising risk by buying smaller bulk vessel cargoes from Japan and Hong Kong. Imports from Australia soared from a small base, up by 3.7% but down 57% from a year earlier.

Similar trend across Asia

Vietnam’s reduced scrap imports were in line with the trend of other major Asian buyers, which reduced scrap imports in April as Covid-19 continued to rampage the global economy. Taiwan’s imports fell by 10% from March and by 8.7% on the year, while South Korea’s imports fell by 10.6% from March and by 22% from a year earlier.

Would you like to share any interesting developments or article ideas with us? Don't hesitate to contact us.

You might find this interesting too

CMC constructing new micro-mill in Arizona
RWM put back to 2021

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Subscribe now and get a full year for just €136 (normal rate is €170) Subscribe
Share your shear stories and win a GoPro!

It’s safe to say that scrap shears are the pillars of the recycling industry. But which configurations are the future? Take part in our tech survey and get a shot at winning a cool GoPro camera!

Thousands of scrap shears are driving recycling businesses all over the world. When it comes to different types, an operator may opt for maximum tonnage or flexibility, such as a mobile set-up. An integrated baling system is also gaining popularity. Ultimately, there is no wrong or right shear; it comes down to how you’re going to use it.

Our survey is meant to map the wants and needs of today’s dynamic recycling industry. Voice your opinion here and, who knows, you may be able to capture your recycling facility in action in HD.

TAKE SURVEY!