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MOF: Japan’s Stainless Steel Scrap Imports Hits 2016 Peak

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by August 11, 2016 Politics

According to latest statistics released by the Japanese Ministry of Finance (MoF), the country’s stainless steel scrap imports have touched the highest levels so far this year during the month of June. The monthly imports witnessed sharp rise over the prior month. The half-yearly import data suggest that the yearly imports in 2016 may far exceed the imports recorded during 2015.

Japan imported 9,933 tons of stainless steel scrap during June this year. The imports surged higher by 11.3% when matched with the prior month. The country’s imports of the material had totaled 8,928 tons during May ’16. The import prices averaged at JPY 120,939 per ton, marginally higher by 0.1% from the prior month. The shipments from Korea, Taiwan and Thailand reported strong growth during the month. On the other hand, imports from the US and China registered month-on-month decline.

The largest exporter of stainless steel scrap to Japan during June ’16 was South Korea. The imports from Korea totaled 5,097 tons, accounting for more than 50% of the total Japanese imports during the month. The imports from Korea jumped higher by nearly 25% when matched with the month before. The stainless scrap imports from Korea had totaled 4,096 tons in May this year. In second place was Taiwan with 2,023 tons. The imports from Taiwan climbed higher from 1,860 tons in May ’16. The other primary exporters of stainless steel scrap to Japan were the USA (1,142 tons), Thailand (476 tons), Hong Kong (370 tons) and China (218 tons).

The cumulative imports during the initial six-month period of the year totaled 52,084 tons. The largest exporter during this period was South Korea. The imports from the country totaled 25,339 tons. The second and third largest exporters during Jan-Jun ’16 were Taiwan and the US with exports of 10,215 tons and 7,578 tons respectively. The other key exporters during the initial half of 2016 were Thailand (1,782 tons), Indonesia (1,532 tons), China (1,471 tons) and Hong Kong (1,275 tons).

Port-wise, Japanese Yokohama discharged the largest quantity of imported stainless steel scrap. The discharge through the port totaled 2,726.4 tons, closely followed by Tokuyama with 2,715.8 tons. The total tonnage of stainless steel scrap discharged through various other ports is as follows: Maizuru (1,775.5 tons), Nagoya (867 tons), Kobe (722.5 tons), Osaka (488.2 tons), Kawasaki (222.2 tons), Tokyo (190.7 tons), Moji (124.1 tons) and Sakai (100.3 tons).

The country’s overall stainless steel scrap imports had totaled 89,951 tons in 2015. The Japanese imports of 51,624 tons were the highest from any country during the entire year. The other key exporters during the year were the USA (14,899 tons), Taiwan (12,178 tons), Indonesia (2,584 tons), Thailand (2,285 tons) and Singapore (2,214 tons).

As per MoF statistics, Japan imported 952 metric tons (MT) of waste and scrap of other alloy steel during June ’16. The cumulative imports of waste and scrap of other alloy steel during the initial six-month period of the year totaled 7,703 metric tons. Japan’s imports of waste and scrap of cast iron totaled 110 metric tons in June ’16. The cumulative imports during the first half-yearly period of the year totaled 481 metric tons. Also, Japan imported 3,337 metric tons (MT) of ordinary steel scrap during June ’16. The cumulative imports of ordinary steel scrap during the initial six-month period of the year totaled 20,335 metric tons.

Source: Hellenic Shipping News

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