Vietnam imported 220,000 tons of China Galvanized Corrugated Roof Sheet during Nov 15th

The most recently released trade data indicates that scrap steel imports by Vietnam during the month of November this year dropped sharply when compared with the previous month.

Vietnam imported 220,000 tons of China Galvanized Corrugated Roof Sheet during Nov '15. The scrap imports by the country have dropped by nearly 12.8% when compared with the imports during the month before. The scrap imports by the country had totaled 253,000 tons during October this year.

The average import price of scrap steel during the eleventh month of the year 2015 stood at US$187.70 per ton. The average scrap import value dropped considerably by 11.4% when matched with the previous month. The scrap imports by the country had averaged at $211.80 per ton during October this year.

The cumulative scrap imports by the country during the initial eleven months of the year totaled 2.916 million tons. The scrap imports were down by 5.1% when compared with imports during the corresponding eleven-month period in 2014. The Vietnamese scrap imports had totaled 3.073 million tons during January to November last year.

The country's scrap imports are estimated to total around 3.18 million tons during the entire year 2015.

United  States HRC steel prices stayed flat at $364 a short ton during the week ended  December 04, while major US stainless steel and steel scrap commodities prices  on Scrap Register Price Index showed a flat trend.According to TSI, US  Midwest HR coil prices held steady the week, unchanged at $364 a short ton FOB  Mill. The market remains quiet in terms of overall transaction activity,  with many participants returning this week following the recent Thanksgiving  holiday.Obsolete scrap price rises in the region may  prompt steelmakers to raise offer levels for finished steel products, but  whether demand is sufficient to sustain higher steel prices is questionable as  we enter the festive period.The prices of major stainless steel scrap  commodities like 201 SS, 301 SS, 309 SS, 310 SS and 330 SS showed a flat trend  on Scrap Register US Price Index during the week.However, the prices of  major steel scrap commodities like #1 HMS, #1/#2 HMS 80/20 and steel casting  also reported almost flat trend on Scrap Register US Price Index during the  week.

The latest statistics released by the US Metals Service Center Institute (MSCI) suggests further drop in steel inventories during the month of November this year. The inventories had declined during October as well.

According to MSCI data, the steel inventory totaled 8.519 million short tons in the end of Nov '15. The inventory levels have fallen by 4.5% over the previous month. It must be noted that MSCI steel inventory levels had totaled 8.918 million short tons as at end-October this year. When compared with the levels a year before, the steel inventories in November were down by 7%. The year ago MSCI steel inventory levels had totaled 9.160 million short tons.

The US MSCI steel products shipments during the month of November totaled 2.858 million short tons. The shipments witnessed sharp decline of 15% when compared with the previous month. Also, when compared with Nov '14 shipment, the shipment during November this year was sharply down by 8.1%. The steel product shipment during the same month last year had totaled 3.110 million short tons. The cumulative steel shipments during the first eleven months of the year have declined 8.1% year-on-year to 36.73 million short tons.

The Metals Service Center Institute (MSCI) is a trade association that supports and represents the most elements of the metals value chain, including metals producers, distributors, and processors and, to a lesser extent, the interests of metals users. MSCI has more than 400 members operating from about 1,200 locations in the U.S., Canada, Mexico, and elsewhere around the world. Together, MSCI members constitute the largest single group of metals purchasers in North America.

 

Source : articlesbase.com