According to the Vietnamese Ministry of Finance custom data, Vietnam imported 0.50 million mt of ferrous scrap in January 2018, a 72 percent increase year-on-year compared to the January 2017 total of 0.29 million mt and reflecting the highest monthly scrap import volume level in five years. The increase is attributed to rising steel production levels in the country. For the full-year 2017, Vietnam imported 3.91 million mt of ferrous scrap.
Imports from the US in January 2018 totaled 0.14 million mt (28 percent), Japan totaled 0.13 million mt (26 percent), Australia totaled 0.07 million mt (14 percent), Hong Kong totaled 0.06 million mt (12 percent), New Zealand totaled 0.03 million mt (6 percent), Philippines totaled 0.03 million mt (6 percent), Singapore totaled 0.01 million mt (2 percent), and other sources totaled 0.03 million mt (6 percent).