Japan's ferrous scrap imports declined in May

TOKYO (Scrap Monster): The ferrous scrap imports by Japan during the month of May this year declined sharply, as per the latest statistics released by the country’s Ministry of Finance.

According to MoF data, the country’s scrap imports nearly 10,000 tons during the month. The imports were down by 18.2% when compared with the imports of 12,349 tons during the previous month. Also, the scrap imports during the month were 19.30% lower when compared with the same month a year ago.

South Korea was the largest exporter of scrap to Japan during May this year. The South Korean scrap exports to Japan totaled around 6,000 tons during the month, accounting for nearly 60% of the total scrap imports by Japan during the month. In second place was the USA with scrap exports to Japan totaling 1,800 tons. The scrap imports from the US dropped considerably by 14% when matched with the previous year.

The cumulative scrap imports by Japan during the initial five-month period of the year totaled around 63,000 tons. The scrap imports by the country plunged by 75.8% when matched with the imports during corresponding five-month period in 2014. The Japanese ferrous scrap imports during January to May last year had totaled nearly 260,000 tons.

The largest scrap exporter to Japan during Jan-May ’15 was South Korea. The South Korean scrap exports to Japan totaled 42,000 tons during the five-month period, accounting for 67% of the total scrap imports by Japan during this period. In second place was the US with scrap exports to Japan totaling 7,000 tons.

The country’s total scrap imports for the entire year 2015 are estimated at 190,000 tons.