Japan Ferrous Scrap Export Drops by 18.8% in September

Japanese ferrous scrap export decreased by around 140,000 tonnes to 596,000 tonnes in September from August. The export was firm for South Korea reaching 300,000 tonnes for the first time in 4 months while the export to China decreased to less than 200,000 tonnes for the first time since September 2004. The export increased slightly from a year earlier. The export increased by 4.4% to 5.895 million tonnes in January-September from same period of 2005. The annualized export was 7.86 million tonnes, which is more than record 7.58 million tonnes in 2005. Japan Ferrous Raw Materials Association reported the scrap export was 596,000 tonnes in September, which was 18.8% lower than 734,000 tonnes in August and 1.7% higher than 586,000 tonnes in September 2005. The export to South Korea increased from a year earlier for 4 months in a row while the export to Taiwan increased for 7 months in a row. The export to Taiwan in the 9 months exceeded record annual volume.