HANOI: The most recently released trade data indicates that scrap imports by Vietnam during the month of May this year plunged heavily when compared with the previous month.
Vietnam imported 187,000 tons of scrap during May ‘15. This is 25.7% down when compared with the imports during the month before. The scrap imports by the country had totaled 252,000 tons during Apr ‘15.
The import value generated by scrap during the fifth month of the year 2015 amounted to US$49.99 million. The ferrous scrap import value dropped significantly by 26.5% from the previous month. The total value generated by scrap imports had touched $68.014 million during Apr ‘15.
The cumulative scrap imports by the country during the initial five months of the year totaled 1.06 million tons. The scrap imports were down by 18.93% when compared with imports during the corresponding five-month period in 2014.
The Vietnamese scrap imports are estimated to total around 2.56 million tons during the entire year 2015.
