By Paul Ploumis 28 Jul 2015 Last updated at 08:40:34 GMT
BEIJING (Scrap Monster): The recently released imports statistics indicate that Malaysia’s scrap imports declined sharply year-on-year during the initial four-month period of the current year. The imports during April alone were down significantly when matched with the previous year.
The country’s scrap imports during January to April this year totaled 256,000 tons. The imports during this period have witnessed sharp decline of 11.8% over the imports during the same period a year ago. The country’s scrap imports had totaled 290,000 tons during January to April in 2014. The scrap imports averaged 72,500 tons during the first four months of the year. The annualized scrap imports by the country are estimated to touch 870,000 during the entire year 2015.
The scrap imports by Malaysia during the month of April alone totaled 57,000 tons. The imports were down by 8.2% over the previous year. The imports plunged significantly by 43.1% when compared with 100,000 tons imported during March this year.
The largest supplier of ferrous scrap to Malaysia during April this year was Australia. The scrap imports from Australia totaled 35,000 tons, accounting for over 60% of the total ferrous scrap imports by Malaysia during the month. The imports from Australia jumped higher by 18.6% in comparison with those during the same period in 2014.
The second largest source of scrap imports by Malaysia during April ’15 was Japan. The scrap imports from Japan jumped almost 35 times to total 11,000 tons during the month. The share of imports from Japan amounted to nearly 20%.