Ferrous Scrap Imports by Japan Surged 30%: MoF

SEATTLE (Scrap Monster): The Japanese ferrous scrap imports are set to register another year of strong growth, according to trade statistics published by the Ministry of Finance (MoF). The imports registered drastic year-on-year jump in November this year. Also, the combined import volumes during the opening eleven months of the year have registered significant increase over the previous year.

According to MoF data, Japan’s ferrous scrap imports totaled 31,341 tons during the month of November this year. When compared with the previous month, the imports were up by over 65%. The country had imported only 18,938 tons during October 2017. Meantime, the imports skyrocketed by more than 212% from the same month a year before.

The key ferrous scrap supplier during the month was China. The imports from China totaled 5,512 tons, representing almost 18% share of total imports by Japan during November. The imports from China declined sharply from 6,298 tons in October.  The second largest exporter of ferrous scrap to Japan was South Korea. The imports from that country totaled 5,484 tons, higher when compared with the prior month imports of 4,928 tons. In third place was Taiwan with 1,420 tons. The USA (1,205 tons), Hong Kong (532 tons), Indonesia (490 tons), Thailand (398 tons) and Singapore (332 tons) were the other main suppliers.

The combined imports of ferrous scrap by Japan totaled 178,737 tons during the first eleven months of 2017. The imports averaged at around 16,000 tons per month. The cumulative imports during Jan-Nov ’17 translated into an annualized 190,000 tons. When compared with the similar eleven-month period in 2016, the imports were up by 29.7%. The country’s imports had totaled only 137,839 tons in Jan-Nov ’16.

Over 38% of the imported scrap by Japan came from South Korea. The supplies from South Korea totaled 68,053 tons during Jan-Nov ‘17. The South African share of total imports dropped from 55.4%, as supplies dropped by nearly 11%. Hong Kong’s exports were up sharply by 620% over the previous year to total 23,582 tons. The country with 13.2% share of total Japanese imports, emerged as the second largest ferrous scrap supplier. The other key suppliers were Taiwan (22,699 tons), China (21,825 tons) and the USA (10,816 tons).