According to statistics released by Japan's Ministry of Finance, the country's ferrous scrap exports totaled 445,700 metric tons in May this year, dropping by 33.96 percent month on month and down 59.6 percent compared to May 2009.
In the month in question, China decreased its ferrous scrap imports from Japan by 38.05 percent month on month to 162,293 metric tons, while a drop of 53.38 percent was registered compared to May 2009. South Korea imported 242,940 metric tons from the same source, down 40.15 percent month on month and down 59.95 percent year on year.
In the given month, scrap exports to China accounted for 36.41 percent of Japan's total scrap exports, while exports to South Korea constituted 54.51 percent of total scrap exports.
Meanwhile, in the first five months of 2010, Japan's scrap exports amounted to 3.08 million metric tons, declining by 32.11 percent year on year. In the January-May period, scrap exports to China totaled 1.12 million metric tons, while exports to South Korea amounted to 1.81 million metric tons, decreasing by 55.65 percent and up 9.12 percent respectively, both compared to the corresponding period of the previous year.