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Metal Recycling News March 03, 2021 04:00:04 PM

Scrap Trade in Asia Witnessed Mixed Trend in Early-2021

Paul Ploumis
ScrapMonster Author
The second largest supplier was Japan, with a volume of approximately 72,000 tons.

Scrap Trade in Asia Witnessed Mixed Trend in Early-2021

SEATTLE (Scrap Monster): The most recent statistics published by the Vietnam Customs indicates that the country’s scrap imports recorded month-on-month decline during the month of January this year. The imports totalled around 413,000 tons, down significantly by over 48% compared to the previous month.

The Taiwanese Customs data suggests that the country imported around 251,000 tons of ferrous scrap in January 2021, which again is higher by 18.3% compared to the previous month. The U.S. accounted for the largest proportion of imports by the country. The imports from the U.S. totalled around 93,500 tons. The second largest supplier was Japan, with a volume of approximately 72,000 tons.

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Meantime, Japan’s scrap exports registered a decline by 24% year-on-year in January this year at 501,000 tons. The largest export destination was Vietnam, which imported around 204,000 tons from Japan. In second place was South Korea which imported 156,000 tons. The South Korean imports from Japan dropped by 44%. The other major importers of Japanese scrap were Taiwan (77,000 tons) and Bangladesh (32,000 tons). The Chinese scrap buyers were seen taking a wait-and-see attitude on procurement of Japanese scrap, said Japanese Ministry of Finance (MoF).

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