Japan Stainless Scrap Export Drops by 26% in 2007

Japanese stainless scrap export decreased to 219,760 tonnes in 2007 from record 296,610 tonnes in 2006. The export dropped for the first time in 2 years under oversupply in East Asia when stainless makers reduce output with lower products and nickel ingot price. The export decreased by around 100,000 tonnes for South Korea in 2007 from 2006 while the export to China reached 100,000 tonnes for 2 years in a row. The total export decreased by 75,000 tonnes or 26% in 2007 from 2006, according to Ministry of Finance. The export to South Korea decreased by 57% to 78,490 tonnes in 2007, which was first time at less than 100,000 tonnes in 10 years, from second high at 182,470 tonnes in 2006 after 184,080 tonnes in 2004. The export to China increased by 22% to 131,510 tonnes in 2007 from 2006, when the volume hit 100,000 tonnes for the first time. The total export volume reached 100,000 tonnes for the first time in 2001 and reached 200,000 tonnes in 2004. The export was mainly for South Korea and increases for China recent years when China expands the stainless output. The export to China represents 60% of total Japanese export compared with 36% for South Korea.