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Metal Recycling News May 31, 2021 05:35:21 PM

Steel Scrap Imports by Vietnam Soared Till April

Paul Ploumis
ScrapMonster Author
The country’s scrap import quantity totalled 550,000 tons in April this year, higher by 41%, compared with the same month a year before.

Steel Scrap Imports by Vietnam Soared Till April

SEATTLE (Scrap Monster): According to latest government statistics, scrap imports by Vietnam surged higher significantly during the initial four-month period of the year. The monthly imports in April 2021 too were on the higher side.

The country’s scrap import quantity totalled 550,000 tons in April this year, higher by 41%, compared with the same month a year before. The largest exporter of scrap to Vietnam during the month was Japan. The imports from Japan totalled 280,000 tons, accounting for almost half of the imports by Vietnam. The imports from Japan surged higher by 27% month-on-month. The rising prices, supply shortage and escalated freight costs resulted in decline in imports from the U.S. and America.

The cumulative scrap imports by the country during the period from January to April this year totalled 1.8 million tons, slightly higher by 5% when compared with the corresponding four-month period in 2020.

In related news, the scrap imports by Pakistan declined marginally from the prior month in April this year. The Pakistan Federal Bureau of Statistics (PFBS) reported imports of around 325,000 tons by the country, down by 2% from March 2021. The country’s monthly scrap imports were valued at $159.4 million. On the contrary, scrap steel imports by China skyrocketed by 67% to 76,200 tons this April.

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