Japanese Stainless Scrap Import Decreases in May

Japanese stainless steel scrap import decreased by 26% to 10,070 tonnes in May from April, according to Ministry of Finance. The import exceeded 10,000 tonnes for 8 consecutive months, though decreasing from USA and South Korea in May. The import decreased by 18% to 3,880 tonnes by 18% from USA in May from April and by 32% to 3,840 tonnes from South Korea. Japanese stainless steel makers keep output reductions and decreased purchasing price of stainless steel scrap rapidly from mid May to early June. Japanese stainless steel scrap export increased by 53% to 27,980 tonnes in May from last month.