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Metal Recycling News October 20, 2017 02:30:16 PM

Ferrous Scrap Trade by Asian Countries Exhibits Mixed Trend

Anil Mathews
ScrapMonster Author
The data published by the Vietnamese Ministry of Finance said that the country’s scrap imports grew by over 13% year-on-year to total around 432,000 tons in September this year.
Ferrous Scrap Trade by Asian Countries Exhibits Mixed Trend

BEIJING (Scrap Monster): The most recent scrap trade statistics released by various Asian countries paint a mixed picture of the trade in the region.

The data published by the Vietnamese Ministry of Finance said that the country’s scrap imports grew by over 13% year-on-year to total around 432,000 tons in September this year. However, the monthly exports were down by nearly 11% when compared with the previous month. It must be noted that Vietnam’s scrap imports had hit a new high in August this year. The combined imports during the initial nine months of 2017 have surged higher by nearly 21% over the previous year to total 3.308 million tons.

Hong Kong exported 111,000 tons of scrap during August 2017. The exports were up by 16% when compared with the same month in 2016. The cumulative exports during Jan-Aug ’17 totaled 869,000 tons, dropping marginally by 0.7% over the year. The primary importer of scrap from Hong Kong was Vietnam. The Vietnamese imports totaled 410,000 tons, accounting for over 47% of the total exports by Hong Kong. The other key export destinations were Indonesia (125,365 tons) and China (115,223 tons).

The Japanese Ministry of Finance (MoF) data indicates that the country exported 72,700 tons of scrap during the month of August this year. This is higher by almost 12% when matched with August 2016. The country’s exports totaled 5.4 million tons during the first eight months of 2017. The exports witnessed significant decline of nearly 11% year-on-year.

Meantime, Singapore exported 541,000 tons of scrap from January to August in 2017, marginally higher by 0.9% over the corresponding eight-month period in 2016. The monthly exports averaged at 68,000 tons. India was the largest importer of scrap from Singapore. The Indian imports totaled 160,000 tons, accounting for almost one-fourth of total Singaporean exports. In second place was Vietnam with 122,281 tons, followed by Indonesia with 110,903 tons. The market shares of total imports by Vietnam and Indonesia were 22.6% and 20.5% respectively.

The statistics released by Taiwanese Customs Department indicates 23% decline in scrap imports in September 2017 upon comparison with the prior month. The US was the largest scrap supplier during the month. Taiwan’s scrap imports from the US totaled 84,125 tons, followed by China (50,727 tons), Japan (11,809 tons) and Hong Kong (11,385 tons).

The South Korean scrap exports have surged higher by 70% over the previous year to total 56,000 tons in August this year. The exports during the first eight months too were up by nearly 22% at 440,000 tons. The key importer of South Korean scrap was Vietnam. The imports by Vietnam accounted for almost one-fourth of the total South Korean exports.

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