Japan to Export 4-5 Million tonnes Ferrous Scrap in 2012

Japan Iron and Steel Recycling Institute (JISRI)’s chairman Tsunefumi Nakatsuji said Japanese ferrous scrap export is forecasted at 4-5 million tonnes in 2012 as 2011. He presented recent Japanese industry trend at 5th China International Metal Recycling Conference in Beijing. He expects high level purchase by integrated steel makers supports scrap price when iron ore cost keeps high level.

Mr. Nakatsuji said Japanese integrated steel makers increase scrap consumption when iron ore price exceeds US$ 160 per tonne historically. He said their scrap consumption keeps 12% of pig iron production while iron ore price was US$ 140 in early April.

Mr. Nakatsuji said some members of JISRI suffered from the major earthquake in March 2011 but all of them resumed the operation in 3 months. He said the members contributed to the recycling and rebuilding when the damaged areas needed scrap collection and recycling for smooth rebuilding.