According to Japan's customs statistics, Japan's ferrous scrap exports amounted to around 4.4 million tons in the first seven months of this year, rising by 18% compared to the same period a year ago.

Among them, shipments to Vietnam grew by 30% year on year to 1.9 million tons, followed by South Korea and Bangladesh, with imports of around 750,000 tons and 738,000 tons, dropping by 22% and soaring by 160% year on year, respectively. Exports to Taiwan, meanwhile, slid by 30% year on year to about 280,000 tons.

In July alone, Japan exported about 616,000 tons of ferrous scrap, a year-on-year increase of 8%.