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Metal Recycling News July 05, 2018 12:30:19 PM

Steel, Stainless Steel Scrap Trade by Japan Reported Notable Decline

Paul Ploumis
ScrapMonster Author
The combined scrap exports during the first five months of 2018 totaled around 3.13 million tons.
Steel, Stainless Steel Scrap Trade by Japan Reported Notable Decline

SEATTLE (Scrap Monster): The imports and exports of steel scrap have recorded significant decline in Japan during the month of May this year. The official trade statistics published by the Japanese Ministry of Finance (MoF) also suggests considerable decline in exports of stainless steel scrap by the country during the month. It must be noted that the country's steel exports continues to remain subdued.

As per data, the Japanese steel scrap exports totaled 633,000 tons in May this year. The exports were down by 7.9% when compared with the year-ago month. Month-on-month, the exports declined by 7.3%. The largest destination of Japanese scrap export was South Korea. The exports to that country totaled around 300,000 tons. The Japanese scrap exports to South Korea were down by 4% over the previous year. The exports to Vietnam surged higher by over 22% to total 140,000 tons in May ’18.

The combined scrap exports during the first five months of 2018 totaled around 3.13 million tons. The exports were down by nearly 6% when compared with the corresponding five-month period in 2017. The single largest importer was South Korea. The imports by the country totaled 1.85 million tons, accounting for almost 60% of the total Japanese exports. The other key importers during Jan-May ’18 were Vietnam (568,000 tons) and China (450,000 tons).

ALSO READ: Asian Scrap Trade Recorded Mixed Trend in May

Meantime, the Japanese steel scrap imports fell by 6.1% year-on-year to total around 11,000 tons in May. The imports totaled 131,000 during Jan-May ’18. The largest scrap supplier to Japan during the initial five-month period was the U.S with supplies of around 72,000 tons. In second and third place were South Korea (25,000 tons) and Taiwan (11,000 tons) respectively.

The stainless steel scrap exports by Japan tumbled over 30% to total around 14,000 tons in May. South Korea (8,500 tons), China (2,800 tons) and Taiwan (2,700 tons) were the key export destinations. The exports to all the top three destinations reported sharp decline. The export prices to Taiwan witnessed decline, whereas those to South Africa were up marginally.

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