By Anil Mathews (ScrapMonster Author)
March 16, 2016 04:18:07 AM
BEIJING (Scrap Monster): The scrap steel imports by Malaysia dropped significantly during the month of December last year. This is when matched with the previous year. However, when comparing with the previous month, the scrap imports increased significantly during December 2015. The imports during the entire year 2015 too fell sharply when matched with the previous year.
According to government trade statistics, the country imported 31,000 tons of scrap steel during December last year. The imports plunged heavily by 45.2% over the previous year. The Malaysian scrap imports had totaled nearly 57,000 tons during December 2014. When compared with November last year, the imports surged higher by over 46%. The imports recorded the highest volume since May last year.
The cumulative steel scrap imports by Malaysia during the entire year 2015 totaled 446,000 tons. The yearly imports dropped sharply by almost 54% when matched with the imports during 2014. The Malaysian steel scrap imports during 2014 had totaled 963,000 tons. This is the second straight year of decline for steel scrap imports by the country. Also, the yearly imports during 2015 hit the lowest level since 1998.