Posted on 07 Jun 2016
The ferrous scrap imports by Malaysia dropped significantly during the initial two-month period of the current year. This is in accordance with the data published by the Malaysian Department of Statistics. The imports during the month of February alone have dropped by almost one-fourth from the previous month. The imports had almost halved in January this year when matched with the month before that.
Jan-Feb ’16 imports
The ferrous scrap imports by Malaysia during Jan-Feb ’16 totaled 29,634 tonnes. The imports have dropped sharply by 69.7% when compared with the same period in 2015. Malaysia’s ferrous scrap imports had totaled 97,800 tons during the corresponding two-month period in 2015.
The largest exporter of ferrous scrap to Malaysia was Singapore. The imports from Singapore totaled 11,947 tons, accounting for 40.3% share of the total imports by Malaysia during this period. The imports from Singapore dropped heavily by 71.2% year-on-year. The imports had totaled 41,416 tons in Jan-Feb ’15.
The second largest supplier of ferrous scrap to the country was the US. The ferrous scrap imports from the US dropped by 9.1% from 6,144 tons in Jan-Feb ’15 to 5,538 tons during the initial two months of 2016. In third place was Japan with 3,352 tons. The imports from the country surged higher by 56.5% over the previous year.
The other key exporters of ferrous scrap to Malaysia during the two-month period were Australia (2,551 tons), Latvia (2,010 tons) and the UK (1,983 tons).
Monthly imports-Feb ‘16
The Malaysian ferrous scrap imports totaled 12,847 tons in February this year. The imports during the month were down by over 45% when matched with the year-ago month. When matched with the previous month, Feb ’16 imports were down by 23.5%. The primary exporters of ferrous scrap to Malaysia during the month were Singapore (5,931 tons), Japan (2,958 tons), Australia (1,578 tons) and the US (1,095 tons).
Monthly Imports-Jan ‘16
The country’s ferrous scrap imports during January this year totaled 16,787 tons. The key suppliers during the month were Singapore (6,016 tons), the USA (4,489 tons), Latvia (2,010 tons), the UK (1,959 tons), Australia (973 tons), Japan (394 tons), New Zealand (258 tons) and Papua New Guinea (203 tons).
Yearly Imports-2015
Malaysia’s yearly imports during the previous year had dropped to the lowest level since 1998.
The ferrous scrap imports by Malaysia dropped significantly during the month of December last year. This is when matched with the previous year. However, when comparing with the previous month, the scrap imports increased significantly during December 2015. The imports during the entire year 2015 too fell sharply when matched with the previous year.
According to government trade statistics, the country imported 31,000 tons of scrap steel during December last year. The imports plunged heavily by 45.2% over the previous year. The Malaysian scrap imports had totaled nearly 57,000 tons during December 2014. When compared with November last year, the imports surged higher by over 46%. The imports recorded the highest volume since May last year.
The cumulative steel scrap imports by Malaysia during the entire year 2015 totaled 446,000 tons. The yearly imports dropped sharply by almost 54% when matched with the imports during 2014. The Malaysian steel scrap imports during 2014 had totaled 963,000 tons.
