Vietnam’s scrap imports fall in Sep due to weak finished steel purchases
Time:Mon, 16 Oct 2023 09:41:36 +0800
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According to statistics, Vietnam’s scrap imports totaled around 303,000 tons in September, falling by 2.4% compared to the previous month and by nearly 8% from the same month a year ago, due to weak purchases of finished steel products. Among them, the US was the major supplier, which exported a good amount of scrap at competitive prices.
In the first nine months of this year, Vietnam imported a total of 3.17 million tons of scrap, a year-on-year decrease of 7%.
Vietnam’s buyers had a low willingness to purchase finished steel due to the slowly developed construction industry in Vietnam. They preferred sourcing local materials to decrease currency risk as possible as they could.
