As per the latest statistics released by the country’s Ministry of Finance (MoF), Japan’s scrap imports recovered sharply during the month of June this year. The Japanese scrap imports surged higher by 76.9% when compared with the imports during same month a year ago. The scrap imports by the country during June ’14 totaled 21,000 tons. The scrap imports were also higher 67.4% over the previous month.
The largest scrap exporter to Japan was South Korea. The South Korean scrap exports to Japan totaled 7,000 tons during the month. The scrap imports from South Korea accounted for one-third of the total imports by the country during June ’14. The imports from South Korea fell 3.5% when compared with the imports during June 2013.
The cumulative scrap imports by Japan during the initial six-month period of the year amounted to 281,000 tons, higher by over 210% when compared with the imports during the corresponding six-month period in 2013.
The largest scrap supplier to Japan during the first half of the year was the US. The US scrap exports to Japan totaled 104,000 tons during this period. The second biggest source of scrap imports by Japan was Hong Kong. The scrap imports from Hong Kong totaled 69,000 tons. In third place was South Korea with total exports to Japan amounting to 47,000 tons.