Vietnam's ferrous scrap imports surged to a more than four-year high in December, supported by active year-end restocking demand.
- The country imported 684,000t of ferrous scrap in December, up by 59pc from November and by 14pc year on year, Vietnam Customs data show. Scrap imports totalled 6.25mn t in 2025, marking a 27pc increase from 2024 and only slightly below the levels recorded in 2020-21.
- Japanese material continued to dominate Vietnam's scrap imports, accounting for more than half of total arrivals. Vietnamese mills imported 3.3mn t of scrap from Japan in 2025, up by 26pc from the previous year. Japanese sellers are expected to continue prioritising the Vietnamese market, supported by the country's expanding steelmaking capacity and construction demand.
- Imports from the US rose sharply on the year, increasing by 56pc to 788,000t. The growth was partly driven by a low base in the previous year, as well as mid-year buying of deep-sea bulk scrap by some Vietnamese mills. Demand for containerised US scrap also increased, given that smaller mills favoured flexible, smaller-lot cargoes to bridge gaps in domestic supply.
- Scrap imports from Singapore tripled on the year to 239,000t, reflecting Vietnamese mills' efforts to diversify supply sources in order to manage purchasing costs and ensure supply stability.
- Hong Kong was the only major supplier to record a year-on-year decline in 2025, with imports falling by 33pc on the year to 374,000t. Ferrous scrap exports from Hong Kong retreated during the year, as exporters diverted more volumes to Bangladesh and India, where prices were more workable.
- Vietnamese mills' scrap consumption is expected to grow further in 2026. Vietnam's economy maintained strong momentum in 2025 despite pressure from US tariffs, with GDP expanding by 8pc. Continued government investment in infrastructure and public housing, rising industrial activity, and sustained inflows of foreign investment will provide further support for steel production and scrap demand in 2026.
| Vietnam ferrous scrap imports | t | ||||
| Dec '25 | m-o-m ± % | y-o-y ± % | Jan-Dec '25 | y-o-y ± % | |
| Japan | 327,892 | 61 | -8.5 | 3,295,631 | 26.3 |
| US | 98,725 | 139.5 | 109.4 | 788,146 | 55.6 |
| Australia | 64,942 | 140.5 | 96.3 | 369,525 | 8.7 |
| Hong Kong | 46,470 | 158.1 | 13.3 | 374,373 | -32.7 |
| Others | 145,825 | 4.2 | 19 | 1,426,781 | 52.9 |
| Total | 683,854 | 59.1 | 13.6 | 6,254,456 | 26.5 |
| Source: Vietnam Customs | |||||
