Malaysian scrap imports soared 69% in Sep '14

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

The country’s scrap imports during the month of September ‘14 alone totaled 78,846 tons. The September imports have witnessed a sharp decline of 15.05% over the imports during August 2014. The country’s scrap imports had totaled 93,348 tons in August this year. On the other hand, the September imports have soared higher by 68.6% over the same month previous year.

The largest scrap supplier to Malaysia during September this year was the US. The supplies from the US totaled 66,444 tons, accounting for 84.27% share of Malaysian imports. In second and third place were Singapore (6,439 tons) and Australia (1,515 tons).

The total scrap imports by the country during the nine-month period from January to September this year declined by 49.9% when compared with the imports during the corresponding period last year. Malaysia imported 823,718 tons of ferrous scrap during Jan-Sep this year.

During the initial nine-month period of the year, the US was the largest scrap exporter to Malaysia. The total scrap imports from the US dropped 26% year-on-year to 420,251 tons. In second place was Australia with total exports plunging by 32.4% to 143,600 tons. Singapore was the third largest scrap exporter to Malaysia. The total scrap exports from Singapore amounted to 108,219 tons, down 58.3% year-on-year.