Japanese Scrap Export Down, 10% M-o-M

Japanese scrap exports have dipped down in the month of April'17 as the country exported 0.64 MnT ferrous scrap as compared to 0.71 MnT in March'17. Japanese scrap prices fell as Japanese export bookings were low. The prices were said to be lowered by 500 Yen/MT , with offers falling to Yen 24,000/MT H1 Grade ($216) FOB Japan.

The Exports are down by 10% M-o-M with Korea being the largest importer of scrap from Japan, the country imported 0.3 MnT ferrous scrap which is about 54% of the total exports done by Japan. Other major importers of Japanese scrap were China, Vietnam and Taiwan.

Plate cutting was the major grade to be exported from Japan, 0.3 MnT of plate cuttings were exported in April'17. Other major grades to be exported were

• Other iron and steel waste scrap - 0.17 MnT
  
  
• Turnings, shavings, chips etc. - 0.13 MnT
  
  

A total of 8.55 MnT ferrous scrap was exported in CY 2016. In CY 2017 (Jan-April) a total of 2.69 MnT ferrous scrap has been exported. In the same tenure of Jan-April 2016 Japan had exported around 2.97 MnT of ferrous scrap. If compared according to Jan-April period the exports of ferrous scrap have dropped down by 9%.