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Japan's stainless steel scrap imports drop in Feb '15

iconApr 10, 2015 16:37
Source:SMM
According to latest statistics released by Japan’s Ministry of Finance (MoF), the country’s imports of stainless steel scrap witnessed sharp decline during the month of February this year.

 Author: Paul Ploumis10 Apr 2015 Last updated at 03:56:20 GMT

 
TOKYO (Scrap Monster): According to latest statistics released by Japan’s Ministry of Finance (MoF), the country’s imports of stainless steel scrap witnessed sharp decline during the month of February this year.
 
The imports during the month jumped tumbled by over 30% when compared with the previous month. The stainless steel scrap imports by Japan totaled 6,524 tons in February. Japan had imported 9,331 tons of stainless steel scrap during the month of December last year.
 
During the month of February, the largest exporter stainless steel scrap to Japan was South Korea. The exports from South Korea totaled 3,992 tons. The Japanese imports from South Korea dropped sharply by 26% when compared with the imports of 5,380 tons during Jan ‘15. In second place was the US with total exports of 1,509 tons. The stainless steel scrap exports from the US to Japan too dropped by 18.1% month-on-month from 1,842 tons. Taiwan remained the third largest exporting nation, with total Japanese imports touching 1,413 tons. When compared with the month before, the stainless steel scrap imports from Taiwan surged higher by 136%.
 
The country’s stainless steel scrap exports during the initial two-month period of the year totaled 15,855 tons.
 
Meanwhile, Japanese mills have lowered stainless steel scrap purchasing prices by ¥5,000/ton for the month of April. Post cut, the average buy price will be around ¥155,000/ton. As per industry talks, the stainless steel scrap purchasing prices are likely to witness further weakness in the months to come.
Japan stainless steel scrap imports

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