Japan's scrap imports up 68 percent in June 2014

According to the latest statistics released by the country's finance ministry (MOF), scrap imports in Japan jumped sharply during June this year. The recovery in scrap demand in Japan boosted imports by 76.9 percent compared with imports in the same month a year earlier. The import of scrap across the country during June 2014 amounted to 21,000 tons. Compared to the previous month, scrap imports also showed an increase of 67.4 percent.

The largest exporter of scrap to Japan was South Korea. During the month, South Korean scrap exports to Japan totaled 7,000 tons. Scrap imports from South Korea accounted for one third of the country's total imports in June 2014, while imports from South Korea fell 3.5 percent compared to imports during June 2013.

Japan's cumulative scrap imports in the first six months of this year were 281,000 tonnes, up more than 210 percent from imports in the corresponding six-month period last year.

The United States was the largest supplier of scrap to Japan in the first half of this year. During this period, US scrap exports to Japan totaled 104,000 tons. The second largest source of scrap imports to Japan was Hong Kong. Scrap imports from Hong Kong amounted to 69,000 tons. South Korea came in third with total exports to Japan of 47,000 tonnes.