Japan Stainless Scrap Export Decreases by 25% in F2007

Japanese stainless scrap export decreased by about 70,000 tonnes or 25% to 222,910 tonnes in fiscal 2007 at the ended of March 2008 from fiscal 2006, according to Ministry of Finance. The export hit the record in fiscal 2007. The export hit the record to China in fiscal 2008 while the export to South Korea fell below at 100,000 tonnes in 7 years for the first time.

The export to South Korea decreased by 55% to 70,740 tonnes in fiscal 2007 from fiscal 2006 when South Korean stainless steel maker such as POSCO, biggest integrated steel maker, reduced the purchasing volume of Japanese stainless scrap due to decreased stainless products market price in South Korea.

The export to China increased by 9% to 139930 tonnes in fiscal 2007 from fiscal 2006, which hit the record for 2 consecutive years. The export to China accounts for 63% of all stainless scrap export. See attached table.