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Metal Recycling News July 18, 2018 11:30:14 AM

Hong Kong's Scrap Exports Posted 23% Decline in May

Paul Ploumis
ScrapMonster Author
The combined exports totaled 555,061 tons during the first five months of the current year, marginally higher by 6.6% over the previous year.

Hong Kong's Scrap Exports Posted 23% Decline in May

SEATTLE (Scrap Monster): The latest trade statistics published by the Hong Kong Census and Statistics Department suggests significant decline in monthly ferrous scrap exports by the country in May this year. This is when compared with the same month a year before. However, the combined exports during the initial five-month period of 2018 recorded marginal increase over the previous year.

Hong Kong’s ferrous scrap exports totaled 99,102 tons in May ’18, significantly down by 23% when compared with May 2017. The imports dropped by nearly 17% when compared with the prior month. The country had exported 118,913 tons of ferrous scrap in April this year.

The top destination of exports from Hong Kong was Vietnam. The exports to that country totaled 50,186 tons, accounting for more than half of the total exports by Hong Kong. The Vietnamese imports increased marginally when compared with the imports of 47,312 tons in April. China was the second largest export destination, importing 10,771 tons of scrap. In third place was Taiwan with imports of 10,716 tons. The other key importers of ferrous scrap from Hong Kong were Indonesia (9,260 tons), India (8,159 tons) and Malaysia (5,610 tons).

The combined exports totaled 555,061 tons during the first five months of the current year, marginally higher by 6.6% over the previous year. The exports had totaled only 520,739 tons in Jan-May in 2017. The exports averaged 111,000 tons so far this year. The exports translate to 1.330 million tons in 2018.

Vietnam imported 243,966 tons from Hong Kong during Jan-May ’18, accounting for 44% of the total exports by Hong Kong. The exports to Vietnam dropped marginally by 3.7% over the previous year. The other key export destinations were China (76,740 tons), Indonesia (75,578 tons), Taiwan (65,589 tons) and India (32,863 tons).

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