Japan Stainless Scrap Export Rises by 16% in November

Japanese stainless scrap export increased by 16% to 24,230 tonnes in November from October, according to Ministry of Finance. The export increased by 5% from a year earlier. The volume hit more than 20,000 tonnes for 2 months in a row when the export to China reached 10,000 tonnes for 2 months in a row and the export to South Korea was second high in 2007. The export to South Korea increased by 107% to 9,990 tonnes in November from October after less than 5,000 tonnes per month in July-October. The export to China was 13,760 tonnes, which was 8% lower than October and 9% lower than a year earlier. Japanese stainless scrap market price decreased toward the end of 2007 when domestic stainless makers reduced the output and export was low level for China and South Korea.