By Paul Ploumis 05 Aug 2015 Last updated at 02:44:39 GMT
TOKYO (Scrap Monster): The ferrous scrap imports by Japan during the month of June this year surged significantly higher, as per the latest statistics released by the country’s Ministry of Finance (MoF).
According to MoF data, the country’s scrap imports totaled 13,800 tons during the month. The imports surged higher by 36.2% when compared with the imports of 10,132 tons during the previous month. However, the scrap imports during the month were 34.4% lower when compared with the same month a year ago.
South Korea was the largest exporter of scrap to Japan during June this year. The South Korean scrap exports to Japan totaled around 8,600 tons during the month, accounting for more than 60% of the total scrap imports by Japan during the month. In second place was the USA with scrap exports to Japan totaling 2,100 tons. The scrap imports from the US increased substantially by 17.9% in comparison with the previous year.
The cumulative scrap imports by Japan during the initial six-month period of the year totaled around 77,000 tons. The scrap imports by the country plunged by 72.7% when matched with the imports during corresponding six-month period in 2014. The Japanese ferrous scrap imports during January to June last year had totaled nearly 282,000 tons.
The largest scrap exporter to Japan during Jan-June ’15 was South Korea. The South Korean scrap exports to Japan totaled 51,000 tons during the six-month period, accounting for 66% of the total scrap imports by Japan during this period. In second place was the US with scrap exports to Japan totaling 9,000 tons.
The country’s total scrap imports for the entire year 2015 are estimated at 155,000 tons.