Japan Stainless Scrap Export Turns to Minus in April

Japanese stainless steel scrap export was 21,050 tonnes in April, down by 31% from March, according to the trade statistics by Ministry of Finance. The export represented the first month-to-month decline since November 2008. The export for China continued to exceed 10,000 tonnes for 4 straight months while the export for South Korea significantly decreased.

The export decreased by 69% to 4,826 tonnes for South Korea while increased by 8% to 14,776 tonnes for China in April from a month ago. The export for South Korea became below 10,000 tonnes for the first time since January 2009. The export for China turned to the plus after 2 months.

In Japan, stainless scrap market price maintains the gradual upward trend since December 2008. Japanese stainless scrap export strongly continues bound for China and the export price is higher than domestic market price. In Japan, scrap trading is widely shrinking. Japanese dealer source said stainless scrap export shows a sign to settle down and the market price relies on the recovery of domestic demand.