Japan’s August ferrous scrap exports fall 8% on month as domestic demand recovers

摘要

Singapore—Japan exported 670,564 mt of ferrous scrap during August, down 7.8% on the month and 2.7% on the year, customs data showed Sept. 29. The drop in exports was attributed to recovering domestic demand in Japan, as most market participants expected downstream manufacturing activities to improve from the third quarter. Japan's August crude steel production also saw improvement in August, rising 6.6% on the month to 6.45 million mt, according to data from Japan Iron & Steel Federation. Though most of the August production increase was driven by better blast furnace output, it nonetheless drove up overall domestic demand for scrap.