According to Japan's customs statistics, Japan's ferrous scrap exports amounted to 645,000 tons in March, falling by 3% compared to the previous month while rising by 25% year on year. The overall export volume remained high due to weaker domestic demand. The first-quarter exports rose by 17% year on year to 1.87 million tons.

While shipments to South Korea declined under pressure of low-priced steel imports and a sluggish construction industry, Vietnam remained Japan's top scrap buyer in the first quarter with a significant year-on-year increase of 23%. Exports to Bangladesh and India also had substantial growth, indicating a focus on emerging South Asian markets.

Due to Japan's construction sector steel demand expected to weaken further, Japan’s scrap exporters are expected to maintain strong activity in overseas markets.