Major Asian Countries Declare Latest Scrap Trade Statistics

In accordance with the Japanese MoF data, the country exported 727,000 tons of scrap in August this year, significantly higher by 11.5% when compared with August 2016.

BEIJING (Scrap Monster): The most recent trade statistics published by various Asian countries suggests that ferrous scrap trade in the region followed mixed trends.

The Japanese scrap imports declined sharply during the month of August this year, says the latest trade data published by the country’s Ministry of Finance (MoF). As per data, the country’s scrap imports totaled 11,000 tons in August this year. The imports dropped sharply by 15% when compared with August last year. The largest exporter of scrap to Japan during the month was South Korea. The country’s scrap imports from South Korea totaled 7,024 tons in August 2017, accounting for nearly 64% of total Japanese monthly imports. The other key suppliers of scrap to Japan during the month were Taiwan (962 tons), the US (572 tons), China (475 tons) and Hong Kong (286 tons).

In accordance with the Japanese MoF data, the country exported 727,000 tons of scrap in August this year, significantly higher by 11.5% when compared with August 2016. Also, the exports recorded 5.3% jump in volumes when matched with the month before. The largest destination of Japanese scrap was South Korea.

According to latest Malaysian trade statistics, the country’s scrap imports almost doubled to 59,000 tons in June this year. The cumulative scrap imports during the first half of 2017 have totaled 261,000 tons. The largest scrap supplier to Malaysia was Australia. The imports from Australia totaled 142,000 tons, accounting for 54.5% of the total scrap imports by Malaysia during Jan-June ’17. Singapore (38,000 tons) and the US (28,000 tons) were the other major scrap exporters to the country.

Thailand’s scrap imports surged higher by more than three times to 284,000 tons in August 2017. The cumulative imports by the country during the initial eight-month period of the year recorded 39% jump to 1.017 million tons.

The data published by the Pakistan Bureau of Statistics indicate sharp surge in scrap imports during August this year. The imports totaled 474,000 tons, significantly higher by almost 92% when matched with the imports during August last year. Over the previous month, imports recorded an increase of 7%. The value of monthly scrap imports by the country amounted to $153 million in August this year.

The Russian scrap exports witnessed marginal decline of nearly 2% in July this year. The country’s exports totaled 504,000 tons during the month. Russia’s scrap exports totaled 2.651 million tons during the first seven months of the current year.

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