Japan's ferrous scrap exports dipped slightly in March, but overall volumes remained high on weaker domestic scrap demand in Japan.
- Exports totalled 645,000t, down by 3pc from February, but still 25pc higher than a year earlier, according to Japan's customs data. Total exports in the first quarter rose by 17pc on the year to 1.87mn t.
- Shipments to South Korea continued to decline and local mills faced pressure from low-priced steel imports and a sluggish construction sector. South Korean mills were largely focused on domestic purchasing and fulfilling long-term contracts with Japanese suppliers, and avoided spot purchases, according to market sources.
- Vietnam remained Japan's largest scrap buyer, with volumes rising by 23pc on the year to 839,000t in the first quarter of 2025. Scrap and steel demand in Vietnam rebounded as construction activity picked up after the lunar new year and steelmakers entered the seaborne market to restock.
- Exports to Bangladesh tripled in January-March compared with 2024, signalling strong growth potential in south Asia. Shipments to India also surged, rising from 10,663t in January-March 2024 to 61,693t in 2025. Japanese suppliers increasingly targeted new markets in the face of weakening demand from traditional export destinations.
- Japanese scrap exporters are expected to stay active in overseas markets on weakening domestic demand. Japan's ministry of economy, trade and industry (Meti) forecasts ordinary steel demand from the construction sector to fall to 3.9mn t in April-June, a 2.4pc decline on the year.
| Japan's ferrous scrap exports | t | ||||
| Country | Mar-25 | m-o-m % ± | y-o-y % ± | Jan-Mar | y-o-y % ± |
| Vietnam | 287,684 | -4.2 | 37.0 | 838,562 | 22.6 |
| South Korea | 111,958 | -4.3 | -28.6 | 353,564 | -24.7 |
| Bangladesh | 102,276 | 0.1 | 133.7 | 274,023 | 200.4 |
| Taiwan | 63,150 | 25.2 | 78.7 | 142,811 | 1.5 |
| Others | 80,183 | -15.7 | 14.5 | 257,706 | 20.7 |
| Total | 645,251 | -3.0 | 25.1 | 1,866,667 | 16.7 |
| Source: Japan customs | |||||
