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Vietnam became the world record holder for the purchase of scrap metal abroad

Ukraine / Asia

The country imported nearly 4 million tonnes of scrap in the first 7 months of this year to support a nearly triple increase in steel production.

Vietnam became the world record holder for the purchase of scrap metal abroad

According to statistics from the Vietnamese government, the total imports of scrap ferrous metals to this country in July 2021 amounted to about 705,000 tons, which is 0.4% less than in the previous month. However, in the first seven months of this year, Vietnam imported over 4 million tonnes of scrap, the largest scrap purchases in Asia.

The main supplier of scrap to Vietnam was the United States (about 278,000 tonnes), followed by Japan (192,000 tonnes) and Australia (90,000 tonnes).

Recall that earlier Japan was the main supplier of scrap metal to Vietnam, but its domestic prices exceeded quotations on the world market, which led to the fact that this time it lost its attractiveness.

Previously reported that Vietnam has surpassed Ukraine and Taiwan in the world ranking of steel producers, increasing its six-month production by 167% to 12.67 million tons.

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