9,312.12 TL BIST 100 BIST 100
4.32 CNY CNY CNY
30.97 $ USD USD
€33.45 EUR EUR
0.13 CNY CNY/EUR CNY/EUR
43.40 TL Interest Interest
83.33 $ Fossil Oil Fossil Oil
22.96 $ Silver Silver
3.87 $ Copper Copper
117.35 $ Iron Ore Iron Ore
398.00 $ Ship Dismantling Ship Dismantling
2,023.70 TL Gold (gr) Gold (gr)

Scrap metal exports from Japan will continue to decrease in 2022

Metal scrap exports decreased 13.6% year on year to 6.3 million tons, the lowest level since 2011, according to Japanese customs data.

Scrap metal exports from Japan will continue to decrease in 2022

Exports to Vietnam decreased by 13.6% year-on-year to 6.3 million tonnes, the lowest level since 2011, according to Japanese customs data, while exports to Vietnam declined by 41.5% year-on-year.

Exports of metal scrap fell 13.6% year-over-year to 6.3 million tons, the lowest level since 2011, according to Japanese customs data, while exports to Vietnam saw their biggest annual drop since 2021, down 41.5%

Vietnam's steel industry struggled to survive in the second half of 2022 due to stagnation in domestic and export steel demand, causing Vietnam's final steel production to reduce by 12% year-on-year. Steelmakers, on the other hand, started to look for local scrap sources instead. Exports to South Korea and Taiwan moderately recovered from the previous year, supported by strong metal scrap consumption and steel production.

Domestic scrap demand in Japan remained strong throughout the year, resulting in limited tonnage in export markets, given low scrap production rates.

Crude steel production from Japanese electric arc furnaces in 2022 registered a smaller annual decline of 2.3% compared to oxygen furnaces, which decreased 9.1% from 2021.

According to market participants, Japanese scrap exports could recover in 2023 due to renewed optimism and recovery in demand from Vietnam, with China reopening in December 2022 after tight Covid-19 restrictions.

 

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

January data on Pakistan's scrap and steel imports has been announced

Wednesday, February 21, 2024

AM/NS India aims to increase ferrous scrap usage to 10% by 2030

Wednesday, February 21, 2024

Taiwan's Feng Hsin lowers scrap and rebar prices

Wednesday, February 21, 2024

The Netherlands' scrap prices are on a downward trend!

Wednesday, February 21, 2024

Scrap procurement in Ukraine decreased

Tuesday, February 20, 2024
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now