Japan Stainless Steel Scrap Export Hits Record in F2006

Japanese stainless steel scrap export decreased by 32% to 12,150 tonnes in September over the previous month while downed by 38% compared to the same month of previous year, according to Ministry of Finance. The export decreased by 73% for South Korea while became below 10,000 tonnes for China for the first time in 2 months. On the other hand, a large dealer source said Chinese importer may gradually increase orders for Japanese ferrous scrap due to rising Chinese steel products market price.The export for South Korea decreased by 73% to 1,040 tonnes in September over the previous month and downed by 91% compared to the same month of last year. The export for South Korea hit the secondly lowest behind 950 tonnes in April 1998 when South Korean stainless steel makers decreased the output.The export to China decreased by 19% to 9,995 tonnes in September compared with August, which increased by 35% compared to August 2006. The export decreased to 3,860 tonnes in July 2007 while increased to 12,370 tonnes in August.Japanese stainless steel scrap import increased by 23% to 9,230 tonnes in September compared to the previous month, which fell to below 10,000 tonnes for 2 consecutive months. Japanese stainless steel makers’ scrap consumption was slow when the market demand declined for SUS304 series products, some users shifted to chrome series products from nickel series and stainless steel makers reduced their outputs.The import from South Korea increased by 65% to 3,000 tonnes in September from August. The import from South Korea stayed low while which hit about 7,000 tonnes per month at a peak of this year. The import from USA decreased to 4,550 tonnes in September. The import from USA hit over 7,000 tonnes at a peak of this year but kept over 4,000 tonnes for 2 months in a row after August.