According to the local media in Vietnam, the relevant ministries of the country have reached an agreement to abolish the law banning
trading companies from importing
scrap steel. The agreement is expected to be announced soon through a new draft law.
According to the current law, which was introduced on November 29, 2005, only the mills that directly consume
scrap to produce steel are allowed to import this material. Due to this law, the country's
billet imports from
China have increased by a large margin. At present, due to the shortage and high prices of billets in
Southeast Asia, Vietnamese mills are in a very difficult situation.
Meanwhile, the steel mills have also asked the government to alleviate the rules on the importation of old ship to be used as
scrap. However, the government is not expected to take any action in this regard.