Japanese Ferrous Scrap Export Continues Decreasing in November

Japanese ferrous scrap export continued to decrease for 6 straight months. The export was 455,000 tonnes in November, down by 9.9% from the previous month, according to Ministry of Finance. One factor was stronger yen against other currencies. Another factor seems Chinese importers suspended new contracts during National Day holidays in early October. China is expected to be the largest importer of Japanese ferrous scrap in 2009.

Japanese ferrous scrap export for China increased by 23.1% to 229,000 tonnes in November from October. The export for Taiwan doubled to 4,000 tonnes. Meanwhile, the export for South Korea decreased by 36% to 192,000 tonnes.

The export for China and Taiwan represented month-to-month increase for the first time in 4 months. The export for South Korea continued to decrease for 2 months in a row. The export volume for China was the second lowest level during January-November 2009 despite of month-to-month increase.

Japanese ferrous scrap export totaled 8.762 million tonnes for January-November, 4.647 million tonnes of which was for China, 3.504 million tonnes for South Korea and 325,000 tonnes for Taiwan. The monthly export continued to decrease since June 2009 while the total amount exceeded record 7.654 million tonnes of 2006 as of the end of September.