Japan Ferrous Scrap Export Hits Record in May”

Japanese ferrous scrap export hit the record high in May and for 3 consecutive months. The export increased by 3.2% to 1.103 million tonnes in May from April, which exceeded 1 million tonnes for 2 consecutive months, according to Ministry of Finance. The export to South Korea and Taiwan increased by 40%.

Total export increased by 42.1% to 607,000 tonnes to South Korea in May from April and by 44.9% to 100,000 tonnes to Taiwan while decreased by 34% to 347,000 tonnes to China. The export to South Korea hit the top volume for the first time in 8 months.The export to China was the top volume until April 2009 since October 2008.