Japan witnessed an increase in its scrap exports in Nov’17 after witnessing fall in past two successive months since Sept’17; During Jan-Nov’17, South Korea’s imports occupied almost half (49%) share of total ferrous scrap exports from Japan.
Japan – third largest exporter of ferrous scrap after EU-28 and US has witnessed marginal increase in its ferrous scrap exports by 6% M-o-M in Nov’17. As per recent customs data, Japan has exported 0.67 MnT ferrous scrap in Nov’17 compared to 0.63 MnT in Oct’17.
On yearly premises, ferrous scrap exports from Japan witnessed the growth of 10% Y-o-Y in Nov’17 against 0.61 MnT ferrous scrap exports in Nov’16.
Japan exported 7.31 MnT ferrous scrap during the period of first eleven months of CY17. A drop of 5% Y-o-Y has noted in its exports against 7.72 MnT ferrous scrap exports in the same period in CY16.
As per inputs provided by Iru Miru, out of total scrap exports in Nov’17 from Japan, almost 48% share was occupied by heavy ferrous scrap with 0.32 MnT and 34% share (0.23 MnT) was of other scrap (including mixed scrap).
Japan mainly exports special grade H2 scrap along with other preferred grades as SD, HS, Shindachi and H1.
South Korea remained preferred destination for Japan’s ferrous scrap exports –
South Korea continued to remain largest importer of Japanese ferrous scrap with 3.56 MnT occupying 49% share of total exports during Jan-Oct’17, followed by second largest importer China with 1.61 MnT imports from Japan. Other major importers for Japanese scrap were Vietnam (1.39 MnT), Taiwan (0.36 MnT) and Bangladesh (0.18 MnT) respectively.
South Korean based steel mills aggressively bid for Japanese scrap in mid of Nov’17. Japanese H2 scrap bids were increased sharply to JPY 34,000-35,000/MT, FoB Japan against average JPY 31,000/MT level in Oct’17.
In Nov’17, South Korea imported highest 0.30 MnT ferrous scrap occupying 45% share in Japan’s ferrous scrap exports.While China and Vietnam imported 0.18 MnT and 0.15 MnT ferrous scrap respectively.
South Korea registered 17% growth while Taiwan almost halved its ferrous scrap imports from Japan during Jan-Nov’17 against same time frame in CY16.
Country-wise Japan ferrous scrap exports –
| Country | Nov’17 | Oct’17 | M-o-M % Change | Nov’16 | Y-o-Y % Change | Jan-Nov’17 | Jan-Nov’16 | % Change |
| South Korea | 0.30 | 0.35 | -14.29% | 0.25 | +20.00% | 3.56 | 3.05 | +16.72% |
| China | 0.18 | 0.14 | +28.57% | 0.18 | 0.00% | 1.61 | 1.66 | -3.01% |
| Vietnam | 0.15 | 0.12 | +25.00% | 0.09 | +66.67% | 1.39 | 1.82 | -23.63% |
| Taiwan | 0.02 | 0 | _ | 0.07 | -71.43% | 0.36 | 0.78 | -53.85% |
| Bangladesh | 0.02 | _ | _ | _ | _ | 0.18 | 0.17 | +5.88% |
| Others | 0 | 0.02 | -100.00% | 0.02 | -100.00% | 0.21 | 0.24 | -12.50% |
| Total | 0.67 | 0.63 | +6.35% | 0.61 | +9.84% | 7.31 | 7.72 | -5.31% |
Quantity In MnT,
Source: SteelMint Stats
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