HONG KONG: According to latest trade statistics released by Hong Kong Census and Statistics Department, the scrap steel exports by the country plunged heavily during the month of September this year. The country’s scrap exports during Sep ‘15 totaled 88,000 tons.
The exports have declined considerably by 8.4% when compared with the country’s scrap exports during same month in 2014. Hong Kong had exported 96,100 tons of scrap during September last year. The scrap steel exports by Hong Kong plunged heavily by 26.6% when compared with the month before. The country’s steel scrap exports had totaled 120,000 tons in August ’15.
The largest destination of exported scrap from Hong Kong during September this year was Vietnam. The scrap imports by Vietnam from Hong Kong totaled 25,000 tons during the month, accounting for nearly just over 28% of the total scrap exports out of Hong Kong. The exports to Vietnam dropped marginally by 2.2% over the previous year.
The second largest importer of scrap from Hong Kong was China. The imports by the country totaled 23,000 tons during the month of June this year. The scrap exports to China were down by 14.7% year-on-year. In third place was Indonesia with 17,000 tons. The steel scrap exports by the country to Indonesia surged higher by almost 23% when matched with the previous year.
The cumulative scrap exports by Hong Kong during the initial nine-month period of the year totaled 956,000 tons, 3.5% higher when compared with the exports during corresponding nine-month period in 2014.
The scrap exports by the country are projected to cross 1.274 million tons during the entire year 2015, marginally higher when compared with 1.259 million tons of export during the entire year 2014.
