Ferrous Scrap Imports Rebounded on Boosted Steel Production
Published by
ScrapPrices
Published on September 16,2020 02:42 AM Scrap Metals
The ferrous scrap imports by the country totalled 683,340t in August.
Ferrous Scrap Imports Rebounded on Boosted Steel Production

SEATTLE (Scrap Monster): The Vietnamese customs data indicates that ferrous scrap imports by the country hit the highest level of 2020 in August this year. The surge in imports was mainly on account of increased steel production in the country.

The ferrous scrap imports by the country totalled 683,340t in August, significantly higher by nearly 31% from the prior month and by 7.2% over the same month a year before. The cumulative imports during the initial eight-month period of the year surged higher by 8.5% over the previous year to 3.83 million tonnes.

The scrap imports from Japan rose to 319,569t in August, up by approximately 36% on the year. The imports from the U.S. too recovered by 62.7% from the previous month to total 148,907t in August. The demand for US deep-sea ferrous scrap cargoes by Vietnamese mills increased significantly.

The Vietnam Steel Association (VSA) reported that steel production by its members increased by 11.36% month-on-month to 2.35 million tonnes in August, which is higher by almost 13% from the same month a year ago. The steel export volumes also recorded notable surge by almost 30% from a year earlier to 462,138 tonnes during the month.

The country’s scrap demand and steel output are expected to hold firm in the coming months, mainly due to anticipated surge in steel industry demand.

MORE SCRAP METALS NEWS
July 02,2025 08:00 AM
Doctor Copper hasn’t been quite the same since US President Donald Trump announced an investigation into US imports back in February. The resulting tariff trade has pulled the global supply chain out of shape, creating feast in the US and famine everywhere else.
June 06,2025 07:00 AM
At the beginning of June 2025, the global scrap market demonstrates overwhelming price stability after mixed dynamics in May. Despite some signs of localized growth, particularly in Italy, the overall sentiment remains subdued. Weakening demand for steel, seasonal factors, oversupply and instability in key export destinations are putting downward pressure on prices in most regions.
May 30,2025 12:00 PM
A single deep-sea scrap deal was heard from Germany on Tuesday at $343/tonne cfr Türkiye for 13,000 tonnes of HMS 1&2 80:20, and at $363/t cfr for 7,000t of shredded and 6,000t of bonus grade material. The supplier initially entered the market with a $352/t cfr offer but, due to a lack of interest, lowered it to $348/t cfr last week before finally closing the sale at $343/t cfr.