29/04/26
Japan’s ferrous scrap exports dip in March
Japan’s ferrous scrap exports dip in March
Shanghai, 29 April (Argus) — Japan's ferrous scrap exports declined in March
from a year earlier, because suppliers prioritised domestic sales on higher
prices and sought to avoid logistical uncertainties in the export market.
Exports fell by 5.1pc on the month and 7.5pc on the year to 597,000t in March,
Japan's customs data show. Total exports in the first quarter declined by 9.8pc
on the year to 1.68mn t. Exports to Vietnam, the largest destination in March,
rose by 6.9pc on the month to 263,000t. The shipments rebounded from the
previous month because of a low base given the lunar new year holiday in
February. First-quarter exports to Vietnam fell by 9pc on the year, because
mills were cautious about the steel market after the lunar new year holiday.
Buying activity picked up in March when the domestic steel market began to
recover. Exports to Bangladesh decreased by 16pc from February to 132,000t in
March, but were still 29pc higher than a year earlier. Bangladeshi mills
returned to the seaborne market for both deep-sea bulk and Japanese scrap
because of an expansion in steelmaking capacity. South Korea slipped to the
third-largest destination so far this year, because its steel sector continued
to face pressure from competitively priced seaborne steel imports. Domestic
scrap prices in South Korea remained below Japanese export levels, resulting in
minimal trade flows. The decline in exports was largely in line with market
expectations, because Japan's domestic scrap market strengthened significantly
from early March to mid-April, with prices rising by ¥7,000/t ($43.85/t).
Japanese suppliers shifted more volumes to local buyers because of aggressive
domestic mill procurement and increased uncertainty in the seaborne market
stemming from the Middle East conflict. Export volumes may decline further in
April, with overseas buyers showing greater resistance to higher Japanese offers
and preferring to wait for stronger steel prices to justify increased raw
material costs. Japanese ferrous scrap exports t Country March % ± vs Feb % ± vs
Mar '25 Jan-Mar % ± on year Vietnam 263,036 6.9 -8.6 763,397 -9 Bangladesh
131,881 -15.9 28.9 311,271 13.6 South Korea 80,291 -24.4 -28.3 288,424 -18.4
Thailand 39,565 -33.3 122.0 111,069 90.3 Others 81,830 36.1 -34.8 209,782 -38.7
Total 596,604 -5.1 -7.5 1,683,942 -9.8 — Japan Customs Send comments and request
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