Ferrous Scrap Shipments from Japan Soared 28%

SEATTLE (Scrap Monster): The Japanese ferrous scrap exports surged higher by 28% in the month of June this year. This is when compared with the exports during the prior month. The monthly exports by the country totalled 883,157 tonnes. The increased procurement of Japanese scrap by key scrap buying countries boosted the export volumes.

The largest export market for Japanese scrap in June was Vietnam. The country received 264,498 tonnes during the month, higher by 54% from the prior month. The cumulative exports during Jan-June ’20 rose by 83% over the previous year to 1.57 million tonnes. The competitive scrap prices offered by Japanese sellers resulted in restocking of scrap inventories by Vietnamese steelmakers.

The imports of Japanese ferrous scrap by South Korea totalled 261,613 tonnes in June 2020, significantly higher by 46% over the prior month. However, the half-yearly imports by the country witnessed year-on-year decline by 24%. The fall in import volumes was mainly due to the slowdown in Korean economy, impacted by Covid-19 pandemic.

The Japanese scrap exports to Taiwan rose to 158,334 tonnes in June this year. The exports during the initial six-month period of the year skyrocketed by 189% to 700,012 tonnes. The sky high purchases during this period were mainly on account of limited availability of scrap from the U.S.

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