Japanese Stainless Scrap Export Decreases from 2006

Japanese stainless scrap export in 2007 is expected to be below the volume in 2006 when was the record at 296,610 tonnes. The export decreased to 187,550 tonnes by 23% for January-October 2007 compared with the same period of last year, according to Ministry of Finance. The export exceeded to China for January-October 2007 compared with the same period of last year while was lowest to South Korea since 2002. Stainless scrap decreased sharply following that the price had been increased for the long time due to the expansion of the stainless steel product demand in whole world. The demand for stainless scrap decreased sharply.The export to China was 107,650 tonnes in 2006 and achieved to 100,000 tonnes for the first time. The export increased by 47% to 112,770 tonnes for January-October 2007 compared with the same period of last year. The export to China achieved to 10,000 tonnes in 2002 for the first time and increased by about 7 times for 5 years. The export rate increased to 60% for January-October 2007 against total export from 36% for the same period of last year and switched positions with South Korea. The export to South Korea increased to 182,470 tonnes by 7% in 2006 from 2005 while decreased to 66,290 tonnes by 59% for January-October 2007 compared to the same period of last year due to the decreased production of South Korean stainless makers such as POSCO.