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Metal Recycling News March 06, 2018 02:30:14 PM

Scrap Imports Exhibited Mixed Trend in Early-2018

Paul Ploumis
ScrapMonster Author
South Korea imported around 600,000 tons of scrap in January this year. Upon comparison with the corresponding month in 2017, the imports surged higher by 22%.
Scrap Imports Exhibited Mixed Trend in Early-2018

SEATTLE (Scrap Monster): The import trade statistics released by Asian countries suggest mixed trend for scrap imports during the opening month of the current year.

The Japanese scrap imports dropped sharply by around 50% over the previous year to hit the lowest level since September 2017. The imports totaled around 13,000 tons during the month. The largest scrap supplier to Japan during the month was South Korea. The imports from that country dropped sharply by 48.3% to total around 4,000 tons. South Korean supplies accounted for almost one-third of the total Japanese imports. The other key exporters were Hong Kong (3,000 tons, down 71.2% y-o-y) and Taiwan (2,000 tons, down 48.2%).

According to trade statistics, Vietnamese scrap imports touched new high during the first month of the year. The imports skyrocketed by 102.5% over the previous year to total 593,000 tons. The value of imports too rose sharply to total around $200 million.

South Korea imported around 600,000 tons of scrap in January this year. Upon comparison with the corresponding month in 2017, the imports surged higher by 22%. Nearly 60% of scrap imports by South Korea were from Japan. The imports from that country surged higher by nearly 28% year-on-year to total 350,000 tons. The second largest supplier was the U.S., whose supplies soared by over 44% to total 91,400 tons. In third place was Russia with total supplies of 62,600 tons. The imports from Russia have declined by 13.4% during the month.

Meantime, the statistics released by the Pakistan Bureau of Statistics (PBS) indicates notable surge in import volumes during January 2018. The imports were up by 15% over the year to total 506,000 tons. The value of imports rose sharply by 46.2% to $156 million. The combined imports during the initial seven-month period (July 2017 to January 2018) of the current fiscal totaled around 3.11 million tons, significantly higher by 45% when compared with the corresponding period during the prior fiscal year.

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