According to research provided to SteelOrbis, the increases in crude steel production in Vietnam are also lifting ferrous scrap imports, although not at the same rate of increase. In 2016, Vietnam’s crude steel production hit 7.8 million mt and the country imported 3.58 million mt of ferrous scrap, representing an increase of 39 percent and 20 percent, respectively, year-on-year. In 2017, the crude steel production increase was 47 percent while ferrous scrap imports increased 9 percent. Estimates for 2018 crude steel production are close to 14.5 million mt and ferrous scrap imports are expected to reach 4.70 million mt, which would result in a 20 percent increase year-on-year for ferrous scrap imports.
|
(million mt) |
Crude steel production |
Percent growth |
Ferrous scrap imports |
Percent growth |
|
2014 |
5.80 |
-- |
2.73 |
-- |
|
2015 |
5.60 |
-3 |
2.98 |
+9 |
|
2016 |
7.80 |
+39 |
3.58 |
+20 |
|
2017 |
11.5 |
+47 |
3.91 |
+9 |
|
2018 (est) |
14.5 |
+26 |
4.70 |
+20 |