Japan to divert more ferrous scrap exports to Vietnam, Bangladesh in 2020

Japan is expected to divert more of its ferrous scrap export supply to Vietnam and Bangladesh in 2020 due to weaker demand from neighbor South Korea, market sources in Japan told Fastmarkets.

“South Korean demand for ferrous scrap is expected to fall further in 2020 compared with 2019, and Japanese scrapyards will have to target new markets to send their materials,” a Japanese trader told Fastmarkets in late December.

South Korean purchases of Japanese ferrous scrap slipped slightly year on year in 2019, with South Korean steel mills buying 3.68 million tonnes in...

Published

Paul Lim

January 07, 2020

11:16 GMT

Singapore