Asian Scrap Trade Recorded Mixed Trend in May

SEATTLE (Scrap Monster): The scrap trade data published by many Asian countries indicates that trade reported mixed trends during the month of May this year.

According to Japanese Ministry of Finance (MoF) data, the scrap exports totaled 633,000 tons in May ’18, significantly down by nearly 8% when compared with May last year. South Korea was the largest importer of scrap from Japan. The South Koran imports from Japan totaled around 300,000 tons, registering 4.1% decline year-on-year. On the other hand, the imports by Vietnam surged higher by 22% over the previous year to total 140,000 tons in May. The exports during Jan-May ’18 totaled around 3.13 million tons. The top three export destinations were South Korea (1.85 million tons), Vietnam (568,000 tons) and China (450,000 tons).

ALSo READ: State Council Ponders Total Ban on Scrap Imports, Including All Metal Scrap

Meantime, Thailand Customs data suggests that the country imported nearly 690,000 tons of scrap during the first five months of the current year. The imports from the US totaled 201,000 tons, accounting for 29% of the total imports. The other major exporters of scrap to Thailand were Myanmar (100,000), Australia (55,000 tons), the Caribbean (33,000 tons) and South Africa (30,000 tons).

The scrap imports by Vietnam dropped marginally by 3.42% in May this year. The imports totaled around 390,000 tons, as compared with the imports of 403,000 tons in May 2017. The largest scrap supplier to Vietnam during the month was Japan with 94,300 tons. The imports from Japan declined marginally when matched with 403,400 tons in the same month a year before.

South Korea imported 0.1% less scrap in May this year. The imports totaled 510,000 tons in May 2018. The combined imports during the first five months were up by3.7% year-on-year to total 2.63 million tons. Over 70% of the total imports were from Japan. The imports from that country surged higher by 13% to touch 1.85 million tons. The other key suppliers were Russia (370,000 tons) and the US (160,000 tons).