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Wednesday, 23 January 2019
South Korea, Vietnam and Brazil Witnessed Robust Scrap Import Trade in 2018
The topmost source of import was Japan, whose supplies totaled nearly 3.9 million tons.
The import trade data published by government agencies of various countries suggests that scrap import trade remained robust during the previous year.
The South Korean customs statistics indicate that the country imported around 6.12 million tons of scrap in 2018. This is slightly higher by 3.8% when compared with the previous year. The country’s scrap imports had totaled only around 5.8 million tons in 2017.
The topmost source of import was Japan, whose supplies totaled nearly 3.9 million tons, accounting for 64% of the total South Korean imports. The imports from Japan inched higher marginally by 0.77% over the previous year. In second place was Russia with supplies around 920,000 tons. However, the South Korean scrap imports from Russia dropped significantly by almost 10% when matched with 2017. The U.S. was the third largest supplier. The imports from that country witnessed notable increase by 72% year-on-year to total around 860,000 tons in 2018.
Vietnam imported around 540,000 tons of scrap in December last year. The imports surged higher by 10.5% from the same month a year before. The full-year imports totaled around 5.7 million tons in 2018, significantly higher by almost one-fifth. The yearly imports by the country hit 3-year peak during the previous year.
The Ministry data indicates that Brazilian scrap imports skyrocketed from 19,600 tons in 2017 to 267,000 tons in 2018. The primary scrap import sources were Canada (99,000 tons) and the U.S. (90,400 tons).