Thailand's scrap imports drop in May

BEIJING (Scrap Monster): The latest import statistics indicate that the scrap imports by Thailand during May this year dropped sharply over the previous month. Also, the scrap imports witnessed strong decline when compared with the same month a year ago.

The scrap imports by Thailand during the month of May this year totaled 109,000 tons. The imports plunged by 35.7% when compared with the scrap imports during the same month a year ago. Meantime, the scrap imports have declined considerably by nearly 10.9% over the previous month. Thailand had imported 123,000 tons of scrap during the month of April this year.

The largest scrap exporter to Thailand during May ’15 was the US. The scrap imports by Thailand from the US totaled 63,000 tons. The scrap imports from the country accounted for nearly 58% of the total scrap imports by Thailand during the month. The US scrap exports to Thailand surged higher by 41% year-on-year. The second largest scrap exporter to Thailand during the month was Hong Kong. The imports from the country totaled 16,000 tons, accounting for approximately 15% of the total scrap imports by Thailand during the month.

The country’s scrap imports during initial five months of the year totaled 434,000 tons. The scrap imports were down marginally by 3.2% higher upon comparison with the imports during the corresponding five -month period last year.

The scrap imports by Thailand are projected to surpass 1 million tons during the entire year 2015.