Asian Scrap Imports on the Rise in 2017, Exports Witness Rapid Decline

The trade statistics published by the Japanese Ministry of Finance (MoF) indicates that imports surged higher by almost one-third to total 232,350 tons in 2017.

SEATTLE (Scrap Monster): The trade statistics published by various countries in the Asian region indicate that imports witnessed significant jump during full year 2017. On the other hand, scrap export trade dropped momentum during the year.

According to data published by the Vietnamese Customs, the country’s scrap imports surged higher by 9% in 2017 to total 3.91 million tons. The country had imported only 3.59 million tons in 2016. The primary exporter to Vietnam during 2017 was Japan. The imports from that country totaled around 1.5 million tons, accounting for 39% of the total Vietnamese imports. The other key suppliers were Hong Kong (690,000 tons) and the US (610,000 tons).

The South Korean scrap imports increased by nearly 6% to reach around 6.18 million tons in 2017, said the Korean Iron and Steel Association. The largest volume of imports was from Japan. The imports from that country recorded year-on-year jump of 17.4% to 4.01 million tons. On the other hand, the scrap supplies from the US dropped significantly by over 42% to total 515,000 tons.

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The trade statistics published by the Japanese Ministry of Finance (MoF) indicates that imports surged higher by almost one-third to total 232,350 tons in 2017. South Korea was the main supplier with supplies of 81,100 tons. However, supplies from Japan dropped marginally during the year. The US (42,900 tons) and Hong Kong (27,500 tons) were the other main exporters of scrap to Japan in 2017.

The South Korean scrap exports during full year 2017 touched 618,000 tons, higher by almost 12% when compared with 2016. The largest importer of scrap from South Korea was China. The export to China totaled 163,200 tons. The other main importers of Japanese scrap were Vietnam (143,000 tons) and India (88,300 tons).

As per Chinese Customs data, the country exported 2.23 million tons of scrap in 2017, modestly higher by over 8% when compared with the year before that. The exports had totaled only 2.06 million tons in 2016. The monthly exports dropped sharply by nearly 50% to total roughly 182,000 tons in December 2017.

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