IN FIGURES: Japan accounts for 65% of China’s steel scrap imports in March

China imported 31,496 tonnes of steel scrap in March of 2021, with 20,493 tonnes, or 65.1% coming from Japan, according to the country's General Administration of Customs.

South Korea was the second-largest scrap supplier to China in March, supplying 6,290 tonnes, about 20% of China’s ferrous scrap imports in the month, with Hong Kong (6.9% of the total) and Malaysia (3.9%) the other significant sources.

China imported 38,602 tonnes of ferrous scrap in the first quarter of 2021, a 1,047% increase on the same period in 2020.

The breakdown of imports in March 2021, according to the Harmonized System (HS) codes, are as follows:

  • Cast iron scrap (HS 72041000): 399 tonnes
  • Other alloy steel scrap (HS 72042900): 10,336 tonnes
  • Other steel scrap (HS 72044900): 20,761 tonnes

China also imported 14,068 tonnes of stainless steel scrap (HS 72042100) in March, with most of that (96%) coming from Malaysia and Japan.

China did not import any tin-coated steel scrap (HS 72043000) or scrap ingot for remelting (HS 72045000) in March.

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This price is a part of the Fastmarkets scrap package. For more information on our North America Ferrous Scrap methodology and specifications please click here. To get in touch about access to this price assessment, please contact customer.success@fastmarkets.com.