Japan Ferrous Scrap Export Drops by 44% in October

Japanese ferrous scrap export decreased by 43.7% to 264,000 tonnes in October from September, which declined for the first time in 2 months, according to Japan Ferrous Raw Materials Association.

Japanese scrap export to South Korea decreased by 61.7% to 99,000 tonnes in October from September while the export to China decreased by 14.3% to 161,000 tonnes. The export to Taiwan was to 0 compared with 10,000 tonnes in September. Korean buyers have trouble for import payment after September when the shortage of foreign currencies gets more serious when economy worsened.

Japanese scrap import remained at 73,000 tonnes in October as September.