Japanese scrap exports surge in April

: Metals
25/05/30

Japan's ferrous scrap exports hit a four-year high in April, fuelled by strong demand from Vietnam and Bangladesh.

Exports reached 742,000t in April, up 15.1pc from March and by 57.3pc compared to April last year, according to Japan's customs data. For the January-April period, total exports rose 26pc year on year to 2.61mn t.
Japanese scrap suppliers are expected to keep export volumes high in the coming months, as domestic steel mills continue to operate at relatively low production levels, with many planning annual maintenance over the summer. Japan's Ministry of Economy, Trade and Industry (METI) has projected crude steel production for the second quarter to drop 4.3pc year on year to 20.33mn t.
Exports to Vietnam remained strong, with local steel mills actively restocking during recent months on the back of a recovery in the country's construction sector. Shipments to Vietnam over the first four months of the year rose 36.7pc year on year to 1.13mn t.
There was strong demand from Bangladesh for Japanese scrap, with imports rising five-fold year on year in April to 148,000t. Exports to India nearly doubled from the previous month to 51,000t. Although south Asian mills usually accept higher workable prices compared to traditional destinations, it is challenging to collect large enough volumes to meet shipment requirements, trade sources said.
South Korea was the only major destination to record a significant decline. Domestic scrap prices in South Korea have stayed at depressed levels, weighed down by sluggish steel sales. This has prompted many South Korean suppliers to look for export opportunities to India and Vietnam, according to trade sources.

Country	April	% ± vs Mar	% ± vs Apr '24	Jan-Apr	% ± on year

Vietnam	295,355	2.7	102.7	1,133,917	36.7
Bangladesh	147,986	44.7	565.7	422,009	272.0
South Korea	73,041	-34.8	-49.9	426,606	-30.7
Taiwan	63,048	-0.2	-3.9	205,859	-0.2
Others	162,985	103.3	76.2	420,692	37.5
Total	742,416	15.1	57.3	2,609,083	26.0
Source: Japan Customs

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EU may crank up coal and steel research funds in 2027

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ArcelorMittal to raise ferro-alloys surcharge on coil

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US Fed cuts target rate by quarter point: Update

25/12/10

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Japanese scrap exports surge in April

Related news posts

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