Japanese steel scrap exports hit seven-year high in April

Exports of ferrous scrap from Japan jumped by 46.3% year on year in April amid strong demand from Vietnam and Taiwan, according to statistics from the East Asian nation's finance ministry.

The country exported a total of 903,016 tonnes of scrap in that month, compared with 617,333 tonnes a year earlier.
April's exports are the highest since May 2013; the country shipped 928,040 tonnes abroad in April 2013.
Japanese scrap sellers focused increasingly on the export market in the first four months of the year, with weak domestic demand for finished steel - particularly in the automotive and manufacturing sectors - weighing on prices for the steelmaking raw material locally.

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