Japan Steel Export Decreases by 16.1% Y/Y in January

Japanese steel export decreased by 16.1% to 2.918 million tonnes in January from a year earlier, which represented year-to-year minus for 11 consecutive months, according to Ministry of Finance. By month-to-month comparison, the export decreased by 5.8%, the first minus in 2 months due to the volume down mainly for China under economic adjustment. Export market conditions are still severe for Japanese steel makers when Chinese steel makers are increasing outputs after Chinese New Year holidays though yen rate is slightly weakening against US dollar.

The export to Asia decreased by 3.3% to 2.274 million tonnes from December. The export to China decreased by 8.0% to 425,000 tonnes, year-to-year minus for 5 straight months. By year-to-year comparison, the export to China dropped by 30.2%.

The export to ASEAN increased by 0.6% to 850,000 tonnes over the previous month, month-to-month plus for 2 months in a row. Thai market has gradually recovered from flood disaster. The export to Asian NIES increased by 0.1% to 910,000 tonnes from December while decreased by 25.7% from a year earlier.

Average export price decreased by 4.2% to FOB 88,775 yen per tonne from the previous month, lowering for 3 months in a row.

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