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Vietnam's scrap imports reach highest level in ten months

Vietnam's iron and steel imports witnessed a decline in February 2024 compared to the previous month, with a decrease of 19.4% in quantity and 15.8% in value, reaching 1.2 million tons and 892 million USD, respectively.

Vietnam's scrap imports reach highest level in ten months

However, there was a significant increase of 43.1% in quantity and 32.4% in value compared to the same month in 2023.

During the first two months of 2024, iron and steel imports surged, showing an increase of 87.9% in quantity and 62.7% in value compared to the same period last year, reaching over 2.69 million tons and exceeding 1.95 billion USD.

Scrap imports in February 2024 experienced a resurgence, reaching the highest level in the past ten months with a 40.3% increase in quantity and a 24,000 USD increase in value, totaling 500,000 tons. There was a 13.5% increase in value compared to the previous month and a 3.5% increase compared to the same period in 2023.

Overall, in the first two months of 2024, scrap imports reached 856,000 tons valued at 317 million USD, indicating a 25.4% increase in quantity and a 20.8% increase in value compared to the same period last year.

The average price of imported scrap in February 2024 decreased by 11% compared to the previous month and by 8.4% compared to the same period in 2023, reaching 352 USD/ton. The average price for the first two months of 2024 stood at 370 USD/ton, indicating a 3.7% decrease compared to the same period in 2023.

These fluctuations in Vietnam's iron and steel imports may be influenced by changing market conditions and demand.

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SteelRadar Insight - Sayı 1 (Haziran 2024)

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