Vietnamese customs data shows that Vietnam's ferrous scrap imports rose by 1.1% YoY in 2021 to 6.34 million tonnes as scrap demand was affected in the second half of the year from Covid-19 lockdowns and weaker Asian steel markets. Scrap demand during January-July was supported by billet exports to China, with scrap imports during the period up by 32.5% from a year earlier. But imports during August-December fell by 30.4% as steel demand was subdued by lockdown measures over June-September.Vietnamese buyers sought supplies from other origins as Japanese scrap prices remained elevated for most of the time, pushing imports from the US and Hong Kong to both rise by more than 60% in 2021Hong Kong - 0.553 million tonnes, up 75.3% YoYUS - 1.705 million tonnes, up 65.2% YoYOthers - 1.317 million tonnes, up 24.8% YoYAustralia - 0.504 million tonnes, up 9.8% YoYJapan - 2.264 million tonnes, down 33.6% YoYSource: Vietnam customs
Vietnamese customs data shows that Vietnam's ferrous scrap imports rose by 1.1% YoY in 2021 to 6.34 million tonnes as scrap demand was affected in the second half of the year from Covid-19 lockdowns and weaker Asian steel markets. Scrap demand during January-July was supported by billet exports to China, with scrap imports during the period up by 32.5% from a year earlier. But imports during August-December fell by 30.4% as steel demand was subdued by lockdown measures over June-September.Vietnamese buyers sought supplies from other origins as Japanese scrap prices remained elevated for most of the time, pushing imports from the US and Hong Kong to both rise by more than 60% in 2021Hong Kong - 0.553 million tonnes, up 75.3% YoYUS - 1.705 million tonnes, up 65.2% YoYOthers - 1.317 million tonnes, up 24.8% YoYAustralia - 0.504 million tonnes, up 9.8% YoYJapan - 2.264 million tonnes, down 33.6% YoYSource: Vietnam customs
