Boosted by demand from China and South Korea, Japanese scrap exports increased for a fifth straight month in March, reaching a new historical high.
In March, scrap shipments from Japan totaled 898,000 mt, up 58.3 percent year on year and up 7.5 percent month on month. Meanwhile, Japan's scrap shipments to China reached 609,000 mt, up 119 percent year on year and up eight percent month on month, while shipments to South Korea amounted to 252,000 mt, up two percent year on year and up 8.3 percent month on month. On the other hand, scrap imports to Japan slipped 63.3 percent compared with the same month last year.