Japan Stainless Scrap Import Drops by 17% in July

Japanese stainless steel scrap import decreased by 17% to 11,470 tonnes in July from June, according to Ministry of Finance. The volume was yearly low. The export also decreased to less than 10,000 tonnes for the first time in 4 years under oversupply in Asia. The stainless scrap import was more than 20,000 tonnes in April and May. The import increased by 47% to 118,600 tonnes in January-July from same period of 2006. However, domestic stainless makers are reluctant to import recently under output reduction.