Japan Stainless Steel Scrap Export Hits Record in F2006

Japanese stainless steel scrap export hit record at around 300,000 tonnes in fiscal 2006 ended March 2007. The export to China, which expands the stainless output capacity, tripled from fiscal 2005 to reach first 100,000 tonnes while the export to South Korea decreased for 2 years in a row. The export to China increased to 43% of total export compared with 19% in fiscal 2005.

Japanese stainless scrap export increased by 34% to 298,430 tonnes in fiscal 2006 from fiscal 2005, according to Ministry of Finance. The export volume increased by more than 70,000 tonnes.

The export to South Korea decreased by 9% to 162,620 tonnes in fiscal 2006 from fiscal 2005 when the buyers were reluctant to purchase Japanese scrap since October 2006 due to the high price. However, the export level has kept more than 100,000 tonnes for 6 years in a row.

The export to China increased by 206% to 128,230 tonnes in fiscal 2006 from fiscal 2005. The buyers increased the purchase from Japan to feed stainless makers when the country became the world no.1 stainless making country in 2006 topping Japan.