Hong Kong's scrap exports surged in February

BEIJING (Scrap Monster):  According to latest trade statistics released by Hong Kong Census and Statistics Department, the scrap exports by the country surged higher during the month of February this year. The country’s scrap exports during Feb ‘15 totaled 60,000 tons. The exports have jumped higher by 11.3% when compared with the country’s scrap exports during same month in 2014. Month-on-month, the scrap exports plunged by over 60%.

The largest destination of exported scrap from Hong Kong during Feb ’15 was Taiwan. The scrap imports by Taiwan totaled 24,000 tons during the month, accounting for nearly 40% of the total scrap exports out of Hong Kong. The exports to Taiwan soared nearly four times over the previous year. Meantime, exports were higher marginally when compared with 22,000 tons during Jan ’15.

The second largest importer of scrap from Hong Kong was China. The imports by the country totaled 16,000 tons during the month of February. The scrap exports to China were up 160% year-on-year. However, the scrap exports halved when matched with the exports of 32,000 tons during the previous month.

The cumulative scrap exports by Hong Kong during the initial two-month period of the year totaled 216,000 tons, 44.6% higher when compared with the exports during corresponding two-month period in 2014.

Hong Kong’s ferrous scrap exports had jumped higher by 5.6% during the entire year 2014 to total 1.259 million tons. The largest importers of scrap from Hong Kong during the year were Vietnam (361,212 tons), China (323,590 tons), Taiwan (249,524 tons) and Indonesia (138,547 tons).