VIETNAM July 29 2016 12:22 PM
HANOI (Scrap Register): Vietnam's ferrous scrap imports during the first six months of the current year increased by 24.3% to 1.790 million tons as compared to the last year. Vietnamese steel scrap imports during first six months of 2015 had totaled 1.44 million tons.
The steel imports in the country had increased by 25% year on year to 9.6 million tons during the first six months of this year. Steel imports in the first half of the 2016 had a significant jump. Although domestic steel production has ramped up during the past several months, the country continues to be one of the world’s top importers of steel.
The scrap imports by Vietnam in June increased by 2.7% to 379189 tons compared during the month before. The scrap imports by the country were valued at $93.66 million during the month. The value of imports was up by 10.8% when matched with the previous month.
However, Vietnam's steel scrap imports during the entire year is expected to be around 3.58 million tons, as by the current import trends. Total scrap imports during entire 2015 had totaled 3.186 million tons.
