Ferrous Scrap Imports Witnessed Dip in October

SEATTLE (Scrap Monster): The import trade statistics by world countries indicate dip in ferrous scrap trade volumes during the month of October this year.

According to Taiwan Customs, the country imported around 246,000 tons of ferrous scrap during the month. This was down by 5.3%, compared with the imports during October 2021. The cumulative scrap imports by the country during the initial ten-month period of the current year totalled around 2.4 million tons, which is down by 6.6% compared to the Jan-Oct ’21 imports. The largest sources of import were the U.S and Japan, whose supplies recorded year-on-year declines.

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The data published by the Brazil Ministry of Development, Industry and Foreign Trade (MDIC) says that import volumes totalled nearly 4,000 tons in October this year, down by 12.7% over the prior month. The Jan-Oct ’22 imports tumbled by almost 81.2% from the previous year to total around 395,000 tons. The largest scrap supplier to Brazil during the ten-month period was Germany.

Also, Vietnam imported around 303,000 tons of scrap in October, registering a decline by 8% over the previous year. The lower volumes were mainly due to fall in shipments from major suppliers including the U.S. and Hong Kong. When compared with the same month a year before, the scrap imports were down by 20.7%, government data suggested.