Japan: Ferrous scrap exports down by 3% m-o-m in April

Japan's ferrous scrap exports were slightly down by 3% m-o-m to 0.54 million tonnes (mnt) in April 2023 compared to 0.55 mnt in March, according to SteelMint data. The country is the world's prominent scrap exporter so far.

Exports of scrap decreased due to a fall in shipments to South Korea, Vietnam and Taiwan.

However, scrap exports also declined by 17% y-o-y in March compared to 0.65 mnt in April 2022.

South Korea continued to be the largest importer, supplying 0.20 mnt followed by Vietnam and Taiwan at 0.11 mnt and 0.08 mnt, respectively.

Japan's crude steel output stood at 7.24 mnt in April, down 3.1% y-o-y, according to data released by the Japan Iron and Steel Federation (JISF). Also, output declined by 3.3% m-o-m compared to March. However, Japan's steel billet exports inched up 2% m-o-m to 261,046 tonnes (t) in April as against 255,579 t in March according to Customs data.

Country-wise exports

Exports to South Korea decline: Export volumes to South Korea from Japan stood at 197,803 t in April, a decrease of 11% compared to 222,934 t in March. Exports to South Korea, however, decreased by 45% y-o-y as compared to 360,636 t in April 2022.

Exports to Vietnam down 35%: Japan's export volumes to Vietnam stood at 113,884 t in April, a decline of 35% m-o-m compared to 174,022 t in March. Shipments to Vietnam also decreased by 39% y-o-y.

Exports to Bangladesh resume: Japan exported 46,535 t to Bangladesh, after a pause in March, followed by Malaysia with a 28% m-o-m hike at 40,070 t in April against 31,210 t in March.

H2 scrap prices rise

The monthly average H2 scrap prices stood at JPY 49,200/t FOB in April, down by JPY 4,900/t m-o-m.