Japanese scrap export is likely to soon fall, despite the fact that the state of emergency was lifted in all industrial regions of the country, in addition to Tokyo, Osaka and Hokkaido, because of limited domestic supplies, analysts said Argus.
"due To the fact that the availability of scrap in the domestic market will remain low, Japanese suppliers have extended the deadlines of its latest export sales for last week. They no longer believe that I will be able to collect enough scrap to fill orders within a typical four-week period. Suppliers in Vietnam last week asked to postpone the June delivery at the end of July," - said the Agency.
Japan's exports of ferrous scrap in the first quarter of 2020 has increased by more than a third compared to the same period last year, due to weak domestic demand amid declining production.
Customs data show that exports of scrap in Japan grew by 36% year on year to 2.41 million tons in January-March.
scrap Exports in March declined slightly, falling 2% from February to 254 866 tonnes, but it was almost twice more than in March 2019.
the Main buyers of Japanese scrap was South Korea, Vietnam and Taiwan.
Previously, coalsalesthat in connection with shortage of scrap UAE has banned the export of raw materials from the country for four months. Russian authorities are considering similar measures to support domestic production.
Also coalsalesthat the US market prices for scrap metal have soared in half, and the time of delivery has increased in two times.
