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Metal Recycling News September 03, 2015 10:30:39 AM

Japan's ferrous scrap imports dropped 7% in July

Paul Ploumis
ScrapMonster Author
The ferrous scrap imports by Japan declined considerably during the month of July this year. The imports dropped nearly 7% month-on-month.

Japan's ferrous scrap imports dropped 7% in July

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

According to MoF data, the country’s scrap imports totaled 10,727 tons during the month. The imports declined sharply by nearly 7% when compared with the imports of 13,759 tons during the previous month.

South Korea was the largest exporter of scrap to Japan during July this year. The South Korean scrap exports to Japan totaled 6,332 tons during the month, accounting for almost 60% of the total scrap imports by Japan during the month. The scrap imports from Korea fell sharply over the month when compared with 8,618 tons imported during June this year. In second place was Taiwan with scrap exports to Japan totaling 1,276 tons. The scrap imports from Taiwan surged nearly 34% month-on-month. The imports from the country had totaled 952 tons in June ‘15.

The cumulative scrap imports by Japan during the initial seven-month period of the year totaled 87,570 tons. The scrap imports by the country plunged by 70.7% when matched with the imports during corresponding seven-month period in 2014. The Japanese ferrous scrap imports during January to July last year had totaled 296,933 tons.

The largest scrap exporter to Japan during Jan-July ’15 was South Korea. The South Korean scrap exports to Japan totaled 57,282 tons during the seven-month period, accounting for 65.4% of the total scrap imports by Japan during this period. In second place was the US with scrap exports to Japan totaling 10,229 tons. The other major scrap exporters during this period were Taiwan (6,703 tons, 7.7% share, down 72.8%) and Thailand (2,295 tons, 2.6% share, down 70.5%).

The country’s total scrap imports for the entire year 2015 are estimated to exceed 150,000 tons.

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