Japan Ferrous Scrap Export Drops by 33.6% in F2010

Japanese ferrous scrap export decreased by 33.6% to around 5.95 million tonnes in fiscal 2010 ended March 2011 from fiscal 2009, which decreased for the first time in 2 years, according to Ministry of Finance. Ferrous scrap demand increased in Japan under higher steel output while the export temporarily decreased due to yen appreciation.

Japanese ferrous scrap export decreased by 30.7% to 2.984 million tonnes for South Korea in fiscal 2010 from fiscal 2009. The export decreased by 35.3% to 2.605 million tonnes for China and by 32.4% to 242,000 tonnes for Taiwan. The export decreased for China for the first time in 3 years. The export decreased for the first time in 2 years for South Korea and Taiwan.

The export decreased for 2 years in a row through fiscal 2008 due to strong domestic demand after the export increased for 4 years in a row since fiscal 2003. The export increased in fiscal 2009 under slower domestic demand after Lehman Shock.