According to preliminary customs data, Japan’s ferrous scrap exports reached 6.54 million mt in the January to November 2018 period, of which 0.49 million mt of scrap was exported in November.
During the 11-month period, Japan exported 3.62 million mt (55 percent) to South Korea, 1.39 million mt (21 percent) to Vietnam, 0.92 million mt (14 percent) to China, 0.40 million mt (6 percent) to Taiwan, 0.08 million (1 percent) to Bangladesh, 0.06 million mt (1 percent) to Indonesia, and 0.07 (1 percent) to other destinations.
Japan reportedly exported 8.05 million mt of ferrous scrap in 2017. The monthly rate was 0.67 million mt in 2017 compared to 0.59 million mt for the 11 months in 2018. At the present monthly rate, it is estimated for Japan to export approximately 7.08 million mt for the full-year 2018, 12 percent lower than 2017.