Malaysia's scrap imports dropped sharply in Nov '14

BEIJING (Scrap Monster): The recently released imports statistics indicate that Malaysia’s scrap imports declined sharply year-on-year during the month of November last year.

The country’s scrap imports during the month of November ‘14 alone totaled 27,000 tons. The imports during the month have witnessed a sharp decline of 63.7% over the imports during the same month a year ago. The country’s scrap imports had totaled 74,380 tons in November 2013.

The total scrap imports by the country during the eleven-month period from January to November last year declined by 50.5% when compared with the imports during the corresponding period in 2013. Malaysia imported 905,000 tons of ferrous scrap during January to November last year. The country’s scrap imports during the similar eleven-month period in 2013 had totaled 1.83 million tons.

The country’s monthly scrap imports averaged at 82,000 tons during the initial eleven month period of the year. The yearly scrap imports by the country are expected to touch 990,000 tons in 2014.