Scrap imports by Vietnam plunged heavily during Jan ‘15

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

Vietnam imported 178,000 tons of scrap during Jan ‘15. This is 41.2% lower when compared with the imports during the month before. The scrap imports by the country had totaled 302,000 tons during Dec ‘14.

The import value generated by scrap during the first month of the year 2015 amounted to US$56.529 million. The ferrous scrap import value declined by 44.6% from the previous month. The total value generated by scrap imports had touched $120 million during Dec ’14. Also, the statistics released by the Vietnamese Ministry of Finance indicates that the average value of imports during Jan ’15 amounted to $318.20 per ton, down by $19.60 per ton during the previous month.

The Vietnamese scrap imports had totaled 3.37 million tons during the entire year 2014, 4.3% higher over the previous year. The country’s scrap imports had totaled 3.23 million tons during 2013.