According to Japan's customs statistics, Japan's ferrous scrap exports amounted to around 5.7 million tons in the first three quarters of this year, rising by 22% compared to the same period a year ago.

Among them, shipments to Vietnam grew by 37% year on year to 2.5 million tons, followed by Bangladesh’s 992,000 tons and South Korea’s 958,000 tons, surging by 150% and falling by 22% year on year, respectively.

In September alone, Japan exported about 728,000 tons of ferrous scrap, a year-on-year jump of 75%.