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Metal Recycling News September 26, 2016 12:30:28 PM

Ferrous scrap imports by Asian countries paint mixed picture

Anil Mathews
ScrapMonster Author
The latest official trade statistics released by various Asian countries indicate significant surge in ferrous scrap import volumes.

Ferrous scrap imports by Asian countries paint mixed picture

BEIJING (Scrap Monster): The latest official trade statistics released by various Asian countries indicate significant surge in ferrous scrap import volumes. The scrap steel imports by Taiwan witnessed 55% month-on-month rise. The other countries in the region to report considerable rise in scrap import volume were Thailand, Vietnam and India. On the other hand, Korean scrap import volumes dropped over the previous year.

According to Taiwan Customs Statistics, the country’s steel scrap imports totaled 320,923 tons during the month of August this year. This is significantly higher by over 55% when matched with the prior month imports. Taiwan had imported 207,047 tons of scrap during July this year. The top exporter of scrap to Taiwan during the month was the US. The country imported 152,785 tons, accounting for almost 47% of the Taiwanese import during the month. The other key exporters to Taiwan during the month were Japan (57,842 tons) and Australia (15,087 tons).

Meantime, statistics published by Thailand authorities suggest 75.1% surge in scrap steel imports month-on-month during July this year. The imports by the country totaled 110,000 tons. However, when compared with the imports during the same month a year before, the July ’16 imports were down significantly by over 25%. The key exporter of scrap steel to Thailand was Australia with 37,000 tons. The imports from Australia were up by almost a third over the previous year. In second place was the US with 33,000 tons. The scrap steel imports from the US dropped sharply by nearly 54% year-on-year.

The cumulative scrap imports by Thailand during the initial seven-month period of 2016 totaled 649,000 tons, down marginally by 0.6% in comparison with the previous year. The imports averaged at 93,000 tons per month. Going by the current rate, the country’s scrap steel imports are likely to touch 1.11 million tons during the entire year 2016.

The trade statistics released by the Vietnam Ministry of Finance indicate that scrap steel imports by the country rose nearly 16% over the previous month in August 2016. The imports totaled 365,040 tons during the month. The value of imports rose nearly 7% year-on-year to $83.344 million. The imports during the initial eight months of the current year totaled 2.457 million tons, surging nearly 15% when compared with the imports during Jan-Aug ’15. The average imports per month stood at 307,000 tons. The country’s scrap imports are estimated to total around 3.70 million tons during the entire year 2016.

Meantime, recent statistics published by the Indian Trade Ministry suggests that the country imported 584,000 tons of scrap steel during the month of June this year. The scrap imports by the country have registered increase for eights in a row when matched with the previous year. The June imports were up by 8.8% year-on-year. However, the imports were down significantly by over 12% when matched with the month before. The steel scrap imports by the country had totaled 664,000 tons in May ’16. The main exporter of scrap steel to India during the month was the US. The imports from the US skyrocketed by 205% to 125,000 tons. The second largest exporter was the UK with 96,000 tons.

On the other hand, Korean scrap steel imports dropped 5.3% month-on-month to 481,000 tons. The imports during January to July this year totaled 3.297 million tons, marginally down by 1.1% over the corresponding seven-month period in 2015. The monthly imports averaged at 471,000. The Korean scrap imports during the entire year 2016 are expected to total around 5.65 million tons.

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