VIETNAM April 18 2017 1:22 PM
HANOI (Scrap Register): Steel Scrap imports to Vietnam has increased drastically in the first three months of this year, in terms of both volume and turnover. In terms of volume, it increased to 45 percent and in turnover terms it increased to 120 percent, this posed a serious environmental threat.
In the first quarter, Vietnam imported about one million tons of steel scrap, which is valued over 276 million US Dollars, as per latest statistics of the General Department of Customs.
Average daily scrap steel import reached over 11,000 tons, which is 1,000 tons higher than the average quantity in 2016.
It is believed that the increase in Steel Scrap imports to the country is mainly because of the outdated technology in the country, ie steel scrap is used as a major component in making steel. But only 60 to 70 percent can be utilized.
