TOKYO: According to latest statistics released by Japan’s Ministry of Finance (MoF), the country’s imports of steel scrap rebounded during the month of March this year.
The imports during the month increased sharply by nearly 27.4% when compared with the previous month. The steel scrap imports by Japan totaled 14,600 tons in March 2016. Japan had imported 11,469 tons of steel scrap during the month of February this year. Upon comparison with the import during the same month a year before, the Japanese steel scrap imports during March this year were up by nearly 10.7%. The country had imported 13,190 tons of steel scrap during March 2015.
Details of scrap import during Q1 ‘16
The country’s steel scrap exports during the initial three-month period of the year totaled 38,300 tons. The cumulative imports dropped heavily by 5.7% year-on-year during this period. The steel scrap imports by Japan during January to March last year had totaled 40,615 tons. The monthly steel scrap imports averaged at 13,000 tons during the initial quarter of the year. Going by the current rate, Japan’s steel scrap imports are likely to total around 150,000 tons during the entire year 2016.
Feb ’16 scrap import data at a glance
The steel scrap imports by Japan totaled 11,469 tons in February 2016. The imports during the month declined sharply by nearly 6.3% when compared with the previous month. Upon comparison with the import during the same month a year before, the Japanese steel scrap imports during February this year were down by nearly 7.1%. The largest exporter of steel scrap to Japan was South Korea. The exports from South Korea totaled 7,266 tons. The other key exporters of scrap steel to Japan during Feb ’16 were the USA (1,308 tons) and Taiwan (1,198 tons).
Japanese domestic scrap prices
The average price of Japan H2 scrap in Kanto, Central and Kansai region was ¥ 23,523/ton during the last week of April. The H2 scrap price in Kanto region climbed higher by ¥ 3,000/ton when compared with the previous week to ¥ 24,500/ton. The average H2 scrap price in Central region was ¥ 22,320/ton, rising by ¥ 3,100/ton when compared with the week before. The average price of H2 scrap in Kansai region increased by ¥ 2,375/ton to ¥ 23,750/ton during the last week of April.
