Japan Stainless Steel Scrap Export Increases by 27.1% in July

Japanese stainless steel scrap export increased by 27.1% to 20,897 tonnes in July from June, which exceeded 20,000 tonnes after 2 months. The export to South Korea was 11,629 tonnes in July, increasing by 41.4% moth-to-month and by 33.7% year-to-year. The export to China increased by 25.3% to 8,695 tonnes in July from June, while decreasing by 22.7% from a year earlier. The export to South Korea exceeded 10,000 tonnes after 4 months. The export to China represented below 10,000 tonnes for 2 consecutive months.

Domestic stainless scrap supply almost halved for SUS 304. However, the supply and demand became tight due to increasing stainless scrap export and stainless makers’ output. A dealer source said it is unclear whether stainless scrap market price might turn down when LME nickel price became below US$ 18,000 per tonne in early September.