Vietnam’s scrap imports increased by 17% in January-August

Vietnam’s scrap imports increased by 19% m-o-m to 404,000 tons in August 2024. This increase represents a significant 37% increase compared to August 2023, when imports were around 296,000 tons.

Vietnam imported a total of 2.9 million tons of scrap in January-August 2024, a 17% increase compared to 2.5 million tons in the same period last year.

Japan was Vietnam’s largest scrap supplier in August, shipping 211,000 tons, more than half of total imports. Other major suppliers included Hong Kong, which exported about 75,000 tons, Australia, about 56,000 tons, and the United States, about 43,000 tons.

The increase in imports highlights the growing demand for scrap in Vietnam, driven by the country’s expanding construction and manufacturing sectors.