Japan Carbon Steel Export Decreases by 2.4% in October

Japanese carbon steel export decreased by 2.4% to 2.171million tonnes in October from a year earlier, according to Japan Iron & Steel Federation. The export decreased for 2 months in a row. Export of common grade steel products decreased mainly due to low market price in Asia. The export was likely to decrease more in November because of negative impact of flood damage in Thailand.

Total steel export including special steels decreased by 0.4% to 3.4 million tonnes in October from a year earlier, year-to-year minus for 8 consecutive months. The total export value was US$ 4.25 billion or 326.1 billion yen. The export value kept year-to-year plus for 22 straight months at US dollar while showed first year-to-year plus in two months at yen.

By countries, total steel export decreased by 19.7% to 650,000 tonnes to South Korea, year-to-year minus for 11 consecutive months when South Korean steel makers have expanded production capacities. The export decreased by 11.4% to 531,000 tonnes to China, year-to-year minus for 7 straight months.

Meanwhile, the export to Thailand increased by 27.0% to 475,000 tonnes before the flood impact, year-to-year plus for 4 months. The export to Taiwan increased by 17.2% to 350,000 tonnes , first year-to-year plus in 2 months. As for hot rolled coil, the export decreased by 62.4% to 84,000 tonnes to South Korea, while increased by 35.2% to 150,000 tonnes to Thailand.

By carbon steel items, zinc coated steel sheet decreased by 7.8% to 403,000 tonnes, cold strip decreased by 15.4% to 278,000 tonnes and shaped steel decreased by 1.8% to 67,000 tonnes. On the other hand, hot strip increased by 10.8% to 740,000 tonnes, steel plate increased by 0.8% to 288,000 tonnes and wire rod increased by 19.0% to 43,000 tonnes.