High prices dent Japan's ferrous scrap exports in May

Source: Mysteel Jun 30, 2022 12:00

Japan's exports of key grades of ferrous scrap, including heavy scrap, Shindachi, shredded and others, plunged by 22.3% on year in May to 501,009 tonnes, according to new data released on June 29 by the government's Trade Statistics of Japan. Scrap trading sources attributed the decline to the high prices Japanese scrap exporters sought last month. Shipment volumes abroad this month are also showing signs that the trade continues to stagnate, they warned.

The May result, which was also 16.4% lower on month, took the January-May total to some 2.37 million tonnes, down 24.8% on year, the data showed. A Tokyo-based scrap trader noted that May exports were mostly booked in April, when Japanese domestic buyers were still lifting their scrap buying prices