Vietnam scrap steel imports up 20% in Dec 2015

By Anil Mathews (ScrapMonster Author)

January 25, 2016 10:06:13 AM

TOKYO (Scrap Monster): The most recently released trade data indicates that scrap steel imports by Vietnam during the month of December in 2015 rose significantly when compared with the previous month.

Vietnam imported 265,000 tons of scrap steel during Dec ‘15. The scrap imports by the country have registered considerable increase of nearly 20.1% when compared with the imports during the month before. The scrap imports by the country had totaled 220,000 tons during November 2015. The value of steel scrap imports by the country during Dec ‘2015 amounted to $46.58 million.

The average import price of scrap steel during the last month of the year 2015 stood at US$175.50 per ton. The average scrap import value dropped considerably by 6.5% when matched with the previous month. The scrap imports by the country had averaged at $187.70 per ton during November last year.

The cumulative scrap imports by the country during the entire calendar year 2015 totaled 3.186 million tons. The scrap imports were down by 5.6% when compared with imports during the year before. The Vietnamese scrap imports had totaled 3.375 million tons during the entire year 2014.

The country’s scrap import values dropped sharply by nearly 35% to $808.57 million in 2015. The import prices averaged at $253.80 per ton during the year. The average value during the year dropped marginally by 2.8% when matched with the eleven-month period from January to November in 2015.