Japan, the world’s third-largest crude steel producer and scrap exporter, observed its ferrous scrap exports getting almost doubled in May’20, increasing by 52% m-o-m. The country exported 1.34 mn t in May’20, in comparison to 0.88 mn t in Apr’20. Meanwhile, on a yearly basis, scrap export volume increased sharply by 168% y-o-y in comparison to 0.5 mn t against in May ’19 according to data maintained by SteelMint.
Notably, this was the highest monthly scrap export recorded by Japan since 2014, as per data maintained by SteelMint, as Japanese scrap export prices were witnessing a very swift uptrend in the second half of April’20, in comparison to domestic prices which were still flat during that time, hence suppliers getting better realization for exports at that time.
South Korea remains the largest scrap importer from Japan in May’20 with 26% of share in total scrap exported from Japan in May ’20. Japan exported to South Korea 0.34 mn t in May’20 slightly increasing by 2% against 0.33 mn t in Apr’20. Similarly, on a y-o-y basis, the country has increased the export volume by 20% in May’20 as it had imported 0.29 mn t to South Korea in May’19.
Other major importers such as Vietnam and Taiwan imported 0.34 mnt and 0.26 mnt respectively. Japan observed scrap imports from Taiwan sharply rise by 172% m-o-m.
Other Japanese steel exports like semi-finished, finished long and flat steel too, observed an increase on a monthly basis, according to the recent data released by the customs department.
Semi-Finished: Japan’s semi-finished export witnessed an increase by 34% m-o-m. The country exported 0.54 mn t in May’20 in comparison to 0.4 mn t in Apr’20. On the other hand, scrap export volume increased by 73% y-o-y in comparison to 0.31 mn t against in May’19. South Korea remains the largest importer from Japan in the month with 16% of share in total semi-finished exported from Japan in May’20.
Finished Flat: Japan’s finished flat steel exports increased significantly by 81% on the month to 3.56 mn t in May’20 in contrast with 1.97 mn t in Apr’20. Increased focus on the overseas trades amid slow demand in the country led to the growth in export volumes during the month. On a country-wise comparison, export volumes to China were up by a whopping 150% to 0.6 mn t as against 0.24 mn t in the preceding month.
In similar lines, export volumes to Vietnam also witnessed a substantial increase by 147% to 0.37 mn t in contrast with 0.15 mn t a month ago. Both of the above nations were actively booking imports over competitive prices. Also, the export volume to South Korea was recorded at 0.49 mn t and Thailand at 0.39 mn t in May’20, significantly up by 96% and 63% respectively.
On a yearly basis, the export volumes increased by 60% in May’20 as compared with 2.22 mn t in May’19.
Finished long: The country’s finished long steel exports too has increased significantly by 59% to 0.27 mn t in May’20 in comparison with 0.17 mn t of steel exported a month back in Apr’20. While on y-o-y basis too, export volume has increased by 59% as it exported 0.17 mn t in May’19.
Japan export finished long to South Korea 0.13 mn t in May’20 increased by 77% against 0.07 mn t in Apr’20. Similarly, on a y-o-y basis, finish long exports observed moved by 121% from 0.05 mn t exported during the same period a year ago.
Quantity in t
Source: SteelMint Stats & Customs Data
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