Vietnam's scrap imports fell in November

Vietnam's scrap imports decreased by 17 percent month on month and 44 percent year on year to around 251,500 tons in November. Imports from Japan declined due to higher scrap prices in the country, despite increased sourcing from the US, Hong Kong and Singapore.

Also, due to low demand for finished and semi-finished products in both domestic and export markets, Vietnamese mills reduced their production and scrap purchases.

Market participants said the decline in scrap imports is likely to continue as the Vietnamese real estate market slows and steel exports weaken.