In Japan, imports of scrap metal increased in June

According to the latest statistics published by the country's Ministry of Finance, imports of scrap ferrous metals to Japan during June this year increased significantly and amounted to 13,800 tons. Scrap metal imports were up more than 36.2 percent compared to 10,132 tonnes imports in the previous month. However, imports of scrap metal during June were 34.4 percent lower compared to the same month a year ago.

South Korea became the largest metal exporter to Japan in June this year. South Korean exports of steel scrap to Japan amounted to about 8,600 tons per month, which is more than 60 percent of Japan's total ferrous scrap imports for the month. The second place was taken by the United States with the export of scrap metal to Japan in the total volume of 2,100 tons. Compared to the previous year, imports of ferrous scrap from the United States increased significantly, increasing by 17.9 percent.

At the same time, the purchase prices of scrap metal were reduced by enterprises during the month. Thus, Tokyo Steel, a leading manufacturer of electrical steel in the country, has reduced the purchase prices of the entire range of supplied ferrous scrap. According to the company's website, purchase prices have been reduced by ¥ 500 /ton.

The cumulative volume of scrap metal imports to Japan during the first six months of this year was about 77,000 tons. The country's imports of scrap steel fell 72.7 percent when compared with imports during the corresponding six-month period in 2014. Japanese imports of ferrous scrap in January-June last year amounted to almost 282,000 tons.

South Korea was the largest exporter of scrap metal to Japan between January and June 2015. South Korean exports of scrap steel to Japan reached 51,000 tons in six months, accounting for 66 percent of Japan's total ferrous scrap imports during that period. The second place was taken by the United States with the export of scrap metal to Japan for the first half of the year, 9000 tons.

The total volume of metal imports into the country for the entire 2015 is estimated at 155,000 tons.