Japanese Iron Ore Import Increases by 3.5% in 2007

Japanese iron ore import increased to 138.93 million tonnes by 3.5% in 2007 from 2006, according to Ministry of Finance. The value was 1042.3 billion yen through 2007, up by 25% or 208.4 billion yen from 2006, when iron ore price and freight increased. Coal import value decreased while cokes increased by 30 billion yen due to increased price. Material costs at Japanese steel industry increased to about 210 billion yen per year.Cokes import average price increased by 92.5% to CIF 43,200 yen per tonne in December 2007 from a year earlier and increased by 52% through 2007 from 2006. Cokes import value increased due to rising price and volume.Coal import value decreased when coal price decreased despite of increased import volume. Coal import average price increased by 10.5% in December from a year earlier except coking coal. Kilkenny coal average price increased by 23.8%.