Dec17 (LTIT) –The latest trade data published by the Japanese Ministry of Finance (MoF) suggests sharp spike in scrap exports by the country during the month of October this year. On the contrary, the scrap imports witnessed notable decline.

The Japanese scrap exports totalled around 920,000 tons in Oct ’20, which is the highest level in almost 11 months. Upon comparison with the same month a year before, the exports were down considerably by over 35%.

The primary scrap export destination was Vietnam. The country imported 366,000 tons of scrap from Japan, higher by 86% over the previous year. The other two key importers were South Korea and Bangladesh, whose imports from Japan totalled 286,000 tons and 154,000 tons respectively. The cumulative exports during Jan-Oct ’20, at around 7.95 million tons, were up by almost 28% from the similar period last year.