Vietnam's scrap imports recovered in February

TOKYO (Scrap Monster): The most recently released trade data indicates that scrap imports by Vietnam during the second month of the year recovered sharply when compared with the previous month.

Vietnam imported 201,000 tons of scrap during Feb ‘15. This is 13.5% higher when compared with the imports during the month before. The scrap imports by the country had totaled 178,000 tons during Jan ‘15.

The import value generated by scrap during the second month of the year 2015 amounted to US$61.61 million. The ferrous scrap import value climbed higher by 9.10% from the previous month. The total value generated by scrap imports had touched $56.529 million during Jan ‘15.

The cumulative scrap imports by the country during the initial two months of the year totaled 379,000 tons. The scrap imports were up by 3.9% when compared with the corresponding two-month period in 2014. The scrap import prices averaged at around $311.60 per ton during the period from January to February this year.

The Vietnamese scrap imports had dropped quite sharply during January this year, after recording a yearly growth of 4.3% during the entire year 2014.