Vietnam ferrous scrap imports in May fall 7%

摘要

Singapore—Vietnam imported 373,401 mt of ferrous scrap in May, down 6.9 % month on month, preliminary custom data showed June 11. Year on year, imports in May contracted 23%. Japan continued to be the biggest exporter during the month, at 178,992 mt, down 37% from April. Volumes from the US, Australia and Hong Kong followed at 72,566 mt, 43,365 mt, and 36,588 mt, respectively. Imports in May fell for the third consecutive month, as Vietnam's meltshops were hit by multiple challenges including the coronavirus pandemic, unmoving product prices, and tougher competition from growing blast furnace presence.