Exports of Japanese Ferrous Scrap Surged in September
The top destination of exports of Japanese scrap was Vietnam.
SEATTLE (Scrap Monster): The official data published by the Japanese Ministry indicates that the country’s ferrous scrap exports rebounded by 11.4% from the prior month to total 747,240 tonnes in September this year.
Meantime, the export volumes have dried up, in comparison with the initial half of the year, as domestic demand surged higher significantly. It must be noted that the country’s average monthly ferrous scrap exports had totalled around 814,000 tonnes in the initial six-month period of the current year. Going forward, exports are expected to weaken further, owing to firm domestic demand, especially from the booming construction sector.
The top destination of exports of Japanese scrap was Vietnam. The exports to that country totalled 270,912 tonnes, down marginally by 6% from the previous month. The new capacity additions in crude steel production are likely to keep the country’s overall scrap demand high in the near future.
The exports of Japanese ferrous scrap to South Korea surged higher by nearly 41% from the prior month to total 251,802 tonnes in September. However, the cumulative exports during the initial nine-month period in 2020 were still down by 26%, compared with 2019. Meantime, Bangladesh surpassed Taiwan to become the third largest export destination. The country’s scrap imports from Japan totalled 104,226 tonnes.
The Taiwanese imports of scrap from Japan almost halved to 48,566 tonnes from the previous month.
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