Malaysian scrap imports dropped 30% in August

BEIJING (Scrap Monster): The recently released imports statistics indicate that Malaysia’s scrap imports declined sharply month-on-month during the month of August this year. The scrap imports by the country declined on a year-on-year basis too.

The country’s scrap imports during the month of August ‘14 alone totaled 93,000 tons. The August imports have witnessed a sharp decline of 43.3% over the imports during July 2014. Also the August imports have declined by 30.3% over the same month previous year.

The largest scrap supplier to Malaysia during August this year was the US. The supplies from the US totaled 41,307 tons, accounting for 45.37% share of Malaysian imports. In second and third place were South Africa (31,999 tons) and Singapore (12,856 tons).

The total scrap imports by the country during the eight-month period from January to August this year declined 53.3% when compared with the imports during the corresponding period last year. Malaysia imported 745,000 tons of ferrous scrap during Jan-Aug this year.

During the initial eight-month period of the year, the US was the largest scrap exporter to Malaysia. The total scrap imports from the US dropped 37.2% year-on-year to 353,807 tons. In second place was Australia with total exports plunging by 32.6% to 142,085 tons. Singapore was the third largest scrap exporter to Malaysia. The total scrap exports from Singapore amounted to 101,780 tons, down 56.9% year-on-year.