Scrap imports by Vietnam see huge drop in Aug '14

TOKYO (Scrap Monster): The most recently released trade data indicates that scrap imports by Vietnam during the month of August this year recorded significant fall when compared with a month ago.

Vietnam imported 258,000 tons of scrap during August ’14. This is 23.8% lower when compared with the imports during July this year. The scrap imports by the country had totaled 339,000 tons during July ’14.

The cumulative scrap imports by Vietnam during the initial eight months of the year totaled 2.26 million tons. The imports during the period increased marginally by 0.3% when compared with the corresponding eight-month period in 2013. Vietnam’s scrap imports had totaled 2.25 million tons during January to August last year.

The total value generated by scrap imports fell significantly in August over the previous month. The import values plunged by 24% over the month to $96.46 million.

The country’s scrap imports are estimated to total nearly 3.4 million tons during the entire year 2014.