Hong Kong's scrap exports tumbled 36% in Nov '14

BEIJING (Scrap Monster):  According to latest trade statistics released by Hong Kong Census and Statistics Department, the scrap exports by the country declined sharply during the month of November this year. The country’s scrap exports during Nov ’14 totaled 89,333 tons. The exports have dropped by 14.2% when compared with the country’s scrap exports during same month the previous year. Month-on-month, the scrap exports have dropped by 36%.

The largest destination of exported scrap from Hong Kong was Taiwan. The scrap imports by Taiwan totaled 27,980 tons during the month, accounting for more than one-third of the total scrap exports out of Hong Kong.

The second largest importer of scrap from Hong Kong was China. The imports by the country totaled 25,856 tons during the month of November. In third place was Indonesia with total imports of 14,238 tons. The other major destinations of scrap exports from Hong Kong were: Vietnam (8,213 tons), Thailand (4,948 tons) and India (1,493 tons).

The cumulative ferrous scrap exports by Hong Kong during the eleven-month period from January to November this year totaled 1.153 million tons. The exports during this period jumped higher by 9.9% when matched with the exports during the corresponding eleven-month period in 2013.

The largest importer of scrap from Hong Kong during this period was Vietnam. The scrap imports by Vietnam totaled 336,935 topns, constituting 29.2% of the total tonnage exported by the country. The other major scrap export destinations were China (293,165 tonnes), Taiwan (219,302 tons) and Indonesia (125,573 tons)