INFOGRAPHIC: Vietnam leads Taiwan, South Korea in increasing ferrous scrap consumption in 2018

Fastmarkets looks at key Asian ferrous scrap consuming countries Vietnam, Taiwan and South Korea, and which exporters increased their shipments to these destinations in 2018.

Vietnam increased ferrous scrap imports by 20.7% in January-November 2018 to 5.12 million tonnes, up 878,425 tonnes, or 20.7%, from 4.24 million tonnes in the same period in 2017.  Fastmarkets MB's import price assessment for HMS 1&2 (80:20) sold into Vietnam peaked at $365-360 per tonne cfr on August 3, 2018, compared with a trough of $303-310 per tonne cfr on December 28, 2018.  Taiwan imported 3.63 million tonnes of ferrous scrap in 2018, up 709,149 tonnes from 2.92 million tonnes in 2017. All of Taiwan's major suppliers, the United States, Japan and Hong Kong, increased export volumes to the territory.  Fastmarkets MB's import price assessment of US-origin heavy melting scrap 1&2 (80:20) sold into Taiwan rose to the 2018 high of $350-355 per tonne cfr on January 5, compared with a low of $275 per tonne on December 28, 2018.  South Korea imported 6.39 million tonnes of ferrous scrap in 2018, up 231,747 tonnes from 6.16 million tonnes in 2017. Key suppliers Japan and the US increased their export volumes to South Korea, while imports of Russian materials fell.  Key supplier Japan exported less ferrous scrap in 2018 at 7.41 million tonnes. This is down 802,964 tonnes from 8.21 million tonnes in 2017. It exported more scrap to key markets South Korea and Vietnam, while exports to China fell substantially.

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