Vietnam to import more scrap in 2006

Vietnam to import more scrap in 2006

Vietnam's Ministry of Industry disclosed that Vietnam intends to import as much as 2 million metric tons of scrap in 2006 due to a lack of raw materials in the country. Five new plants expected to come on stream next year in Vietnam will be able to produce a combined 1.9 million metric tons of steel ingot. However, in order to produce the additional ingot the country will need to import a significant amount of scrap, the ministry said. Vietnam's domestic scrap sources have dwindled recently, meaning the country will be looking to import an increasing amount of scrap over the coming years.