Posted on 20 Jan 2016
The exports have increased significantly by 11.2% when compared with the country’s scrap exports during same month in 2014. Hong Kong had exported 89,000 tons of scrap during November 2014. The scrap steel exports by Hong Kong rose marginally by 0.7% when compared with the month before. The country’s steel scrap exports had totaled 98,000 tons in October ’15.
The largest destination of exported scrap from Hong Kong during November last year was Vietnam. The scrap imports by Vietnam from Hong Kong totaled 33,000 tons during the month, accounting for nearly one-third of the total scrap shipments out of Hong Kong. The exports to Vietnam surged higher by nearly 296% over the previous year.
The second largest importer of scrap from Hong Kong was China. The imports by the country totaled 24,000 tons during the month of November last year. The scrap exports to China were down by 6.5% year-on-year. In third place was Indonesia with 17,000 tons. The steel scrap exports by the country to Indonesia surged higher by almost 19.7% when matched with the previous year.
The cumulative scrap exports by Hong Kong during the initial eleven-month period of the year totaled 1.153 million tons. The scrap exports by the country are projected to cross 1.26 million tons during the entire year 2015.
