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According to Japanese 25CrMo4 steel customs statistics, in March 2025, the total export volume of scrap steel in Japan was 646000 tons, a year-on-year increase of 25.1%, higher than the 516000 tons in the same period of 2024. In the first quarter of this year (January March), Japan exported a total of 1.87 million tons of scrap steel, a year-on-year increase of 16.8%, continuing the trend of recovery since the second half of last year.
From the perspective of major export markets, Vietnam 25CrMo4 steel remains the largest buyer of Japanese scrap steel, importing a total of 839000 tons in the first quarter, a year-on-year increase of 22.6%, accounting for nearly 45% of the total export volume. South Korea remains the second largest market, but due to weak demand, imports decreased by 24.7% year-on-year to 354000 tons. The import volume of scrap steel in Bangladesh has significantly increased to 274000 tons, a year-on-year surge of 200.4%, indicating the explosive demand for imports brought about by the expansion of the country's electric furnace production capacity.
In addition, Japan's scrap steel exports to Taiwan, China also maintained a steady growth. In the first quarter of this year, the export volume reached 143000 tons, slightly higher than the 141000 tons in the same period last year.
Overall, Japan's scrap steel exports continue to rise, benefiting from stable procurement demand in Southeast and South Asian markets. Especially the strong pull from Vietnam and Bangladesh is gradually offsetting the contraction of the Korean market. It is expected that Japan's scrap steel exports will continue to be affected by both regional 25CrMo4 steel making structure adjustments and international scrap steel price fluctuations in the future.
