Japan Ferrous Scrap Export Decreases by 31% to 6.5 Million tones in 2010

Japanese ferrous scrap export decreased by 31.1% to 6.471 million tonnes in 2010 from 2009. The export decreased for the first time in 2 years when domestic scrap demand increased along steel makers’ output recovery and strong yen trend impacted the export. The export to South Korea accounted for 50% of the total volume.

Japanese ferrous scrap export to South Korea decreased by 11.6% to 3.336 million tonnes in 2010 from 2009. The export to China dropped by 45.5% to 2.714 million tonnes while the export to Taiwan decreased by 12.9% to 298,000 tonnes.

Scrap demand is basically increasing in South Korea when South Korean steel makers have recently started operation of new steel plants. The export to China hit the largest volume among countries in 2009 but declined in 2010 since Japanese ferrous scrap price maintained relatively high level

Japanese ferrous scrap export had increased for 3 consecutive years since 2004 and reached 7.654 million tonnes in 2006. In 2007 and 2008, the export decreased due to domestic demand increase. The export hit record 9.4 million tonnes in 2009.