China's ferrous Scrap imports from US dips sharply in Jan-Aug; Japan's up by 44%

NEW YORK (Scrap Monster): Mainland China's ferrous scrap imports United States and Australia dropped sharply in the first eight months of this year while its imports from Japan rose significantly, as per latest trade data released by government.

According to the trade data, country's total ferrous scrap imports down by 11.7% year-on-year to 3,599,000 tons in January to August this year.

--China's ferrous scrap imports from Japan advanced significantly by 43.5% year-on-year to 1,992,000 tons which accounts 55.4% of China's total imports.

--China's ferrous scrap imports from US dropped sharply by 41% year-on-year to 1,010,000 tons, which accounts 28% of country's total imports.

--Imports from Australia declined significantly by 26.1% year-on-year to 189,000 tons, which accounts 5.2% of total imports.

--China's ferrous scrap imports from Hong Kong dropped by 25.5% year-on-year to 101,000 tons while its imports from South Korea down by 9% year-on-year to 82,000 tons and its Kazakhstan imports dipped 49.1% year-on-year to 32,000 tons.

Mainland China's total ferrous scrap imports declined sharply by 24% year-on-year to 392,000 tons in August this year and down 4.2% month-on-month. Country's ferrous scrap imports dropped less than 400,000 tons level for the first time in six months, indicating the second lowest level so far since the beginning of 2012.