Japan’s scrap exports rise by 31 percent in Feb over Jan

According to statistics released by Japan's Ministry of Finance, Japan's ferrous scrap exports totaled 556,500 metric tons in February this year, rising by 31.28 percent month on month and down 33.9 percent compared to February 2010. Market insiders are now waiting to see how the major earthquake in Japan affected the country's scrap exports in March.
 
In February, China increased its ferrous scrap imports from Japan by 5.4 percent month on month to 198,000 metric tons, while a drop of 20 percent was registered compared to February 2010. South Korea imported 345,025 metric tons from the same source, up 49 percent month on month and down 36 percent year on year.
 
Meanwhile, in the January-February period of 2011, Japan's scrap exports amounted to 403,950 metric tons, declining by 72 percent year on year.
 
In the first two months of this year, Japanese scrap exports to China totaled 385,757 metric tons, while exports to South Korea amounted to 576,084 metric tons, decreasing by 21 percent and down 36 percent respectively, both compared to the corresponding period of the previous year.