Vietnam has become the largest importer of bulk scrap in Asia last December. The total scrap imports from several major Asian importing countries increased to about 158,000 tons in December last year, compared to about 60,000 tons in the previous month.

In December last year, due to the strengthening Japanese yen and the urgent need to replenish stocks, Vietnam turned to buy US bulk scrap as Japanese scrap prices lost competitiveness.

According to statistics, Vietnam imported approximately 90,000 tons of West American scrap in December 2022.