Accumulated in the first 7 months of the year, the import turnover of iron and steel scrap from the US reached $ 460 million, an increase of 4.2 times over the same period in 2020, accounting for 26% of the total import turnover of iron and steel scrap of the country.

According to statistics of the General Department of Customs, imports of iron and steel scrap of all kinds in July reached more than 704 thousand tons, worth more than 332.5 million USD, did not change much in volume and value compared to June.

Accumulated in the first 7 months of the year, imports of iron and steel scrap reached more than 4.1 million tons, worth nearly 1.8 billion USD, up 32.5% in volume, import turnover increased 2.2 times over the same period last year. 2020.

Import volume and value of iron and steel scrap in the past 1 year (Data: General Department of Customs, Graphic: Hoang Anh)

In the first 7 months of the year, Japan, the US, Australia and Hong Kong are the 4 main export markets of iron and steel scrap for Vietnam.

Notably, imports of iron and steel scrap from the US reached 1 million tons, equivalent to $ 460 million, up 2.5 times in volume, 4.2 times in value over the same period in 2020, accounting for 26% of the total. import turnover of iron and steel scrap of the country.

Import of iron and steel scrap from Australia reached nearly 350,000 tons, equivalent to nearly USD 161 million, doubled in volume, increased nearly 3 times in value over the same period in 2020, accounting for 9% of total scrap import turnover. iron and steel materials of the country.

Import of iron and steel scrap from Hong Kong reached 293 thousand tons, equivalent to nearly 130 million USD, sharply increased by 18% in volume, doubled in value over the same period in 2020, accounting for 7% of total scrap import turnover. iron and steel materials of the country.

Proportion of import turnover of iron and steel scrap from markets in the first 7 months of the year (Data: General Department of Customs, Graphics: Hoang Anh)

In general, imports of iron and steel scrap from most markets in the first 7 months of this year increased sharply compared to the same period in 2020.

Imports from Japan alone, the largest market in the first 7 months of the year reached 1.6 million tons, equivalent to 736 million USD, down 9% in volume, up 52% in value over the same period in 2020, accounting for nearly 42% of the total import turnover of iron and steel scrap of the country.

According to the General Department of Customs, the import price of steel scrap in July reached 472 USD/ton, up 13 USD/ton compared to June. Generally in the first 7 months of the year, the import price of steel scrap reached 420 USD/ton. increased by 66% over the same period last year.

Average import price of iron and steel scrap over the months (Unit: USD/ton) (Data: General Department of Customs, Graphic: Hoang Anh)

The Vietnam Steel Association (VSA) said the price of HMS 1⁄2 80:20 scrap imported to East Asia port was at $495/ton CFR East Asia on August 11. This price decreased by 23 USD/ton compared to the beginning of July. The price of scrap steel offered for sale in the US, European and Southeast Asian markets tended to increase slightly.

Also in July, domestic scrap price increased from 300-400 VND/kg and kept at 10,400 – 11,000 VND/kg. The price of imported iron and steel scrap decreased by 5 USD/ton and remained at 503 USD/ton at the end of June.

VSA believes that prices of steel materials in July tend to be stable following the slowing down of raw material prices in the region and the world.