Author: Paul Ploumis21 May 2015 Last updated at 05:10:58 GMT
TOKYO (Scrap Monster): The scrap consumption levels by Japanese steel sector declined sharply during the month of February this year. According to latest statistics released by the Japanese Ministry of Finance (MoF), the country’s steel industry purchased 1.973 million tons of scrap during the month, down by 8.4% year-on-year. The scrap purchases had totaled 2.154 million tons during February last year.
Out of the 1.973 million tons, carbon steel scraps totaled 1.849 million tons, accounting for nearly 94% of the total scrap purchase by the sector. The carbon steel scrap purchase was down by 7.2% when compared with the total purchases of 1.992 million tons during the same month a year ago. In second place was alloy scrap, where purchases totaled 85,000 tons. The alloy scraps purchases too declined by nearly 10% over the previous year. The pig iron scraps purchases totaled 40,000 tons during Feb ’15. The purchases of pig iron scraps tumbled nearly 43% when compared with Feb ’14.
As per MoF data, scrap consumption by the country’s steel industry totaled 2.796 million tons during February. The scrap consumption witnessed a decline of 6.4% over the year. Scrap consumption by Japanese steel industry had totaled 2.628 million tons in February last year.
Out of this, carbon scrap consumption by LD converters totaled 662,000 tons, declining sharply over the year by nearly 15%. The alloy scraps consumption totaled 36,000 tons, rising by 7.8% year-on-year. The pig iron scraps consumption dropped 4.6% over the year to total 21,000 tons during February this year.