By Paul Ploumis 03 Sep 2015 Last updated at 06:34:36 GMT
TOKYO (Scrap Monster): According to latest statistics released by Japan’s Ministry of Finance (MoF), the country’s imports of stainless steel scrap dropped significantly during the month of July this year.
The exports during the month declined sharply by nearly 16.7% when compared with the previous month. The stainless steel scrap imports by Japan totaled 18,715 tons in July. Japan had exported 22,467 tons of stainless steel scrap during the month of June this year.
During the month of July, the largest importer of stainless steel scrap from Japan was South Korea. The imports by South Korea totaled 11,615 tons. The South Korean stainless steel scrap imports from Japan increased nearly 5.8% when compared with the imports of 10,978 tons during June ‘15.
In second place was Taiwan with total imports of 5,207 tons. The stainless steel scrap exports from Japan top the US surged significantly higher by 11.3% month-on-month. In third place was Thailand with total imports of 1,144 tons. The three countries together accounted for almost 95% of the stainless steel scrap exports from Japan during June this year.
The country’s stainless steel scrap exports during the initial seven-month period of the year totaled 123,062 tons.