Japan's ferrous scrap exports decreased by 13% y-o-y to about 492,000 tons in August.
In the January-August 2024 period, total exports fell by 7.4% y-o-y to about 4.3 million tons.
Vietnam became Japan's largest market, importing approximately 1.7 million tons of scrap metal, up significantly by 62% y-o-y. South Korea ranked second, importing 1.1 million tons, down by 43% y-o-y, and Taiwan ranked third, importing 433,000 tons, down by 34% y-o-y.
Market experts also expect scrap prices in Japan to continue their downward trend unless there is a significant change in global economic conditions or a significant increase in buyer demand.
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