Japan Carbon Steel Export Decreases by 12.2% Y/Y in May

Japanese export of carbon steel products decreased by 12.2% to 2.213 million tonnes in May from a year earlier, according to Japan Iron & steel Federation. The export represented year-to-year minus for 3 straight months. By month-to-month comparison, the export decreased by 2.1% and downed for 2 months in a row. Japanese integrated steel makers recovered from temporary suspension after the mega earthquake while Japanese steel users faced operative down due to component shortage. Moreover, overseas market price maintained low mainly due to increase of Chinese steel export.

All steel export decreased by 8.0% to 3.314 million tonnes, year-to-year minus for 3 straight months. The export value was US$ 3.975 billion, year-to-year plus for 17 straight months. Meanwhile, the export value on yen base was 323.4 billion yen and represented first year-to-year minus in 17 months to reflect strong yen trend.

Among carbon steels, hot rolled wide strip decreased by 24.9% to 629,000 tonnes, zinc coated steel sheet decreased by 7.4% to 439,000 tonnes, cold rolled wide strip deceased by 12.2% to 296,000 tonnes, welded steel tube decreased by 8.0% to 104,000 tonnes, magnetic steel sheet decreased by 2.4% to 86,000 tonnes and seamless steel tube decreased by 1.6% to 56,000 tonnes. On the other hand, steel plate increased by 19.1% to 333,000 tonnes, shaped steel increased by 21.9% to 69,000 tonnes, and wire rod increased by 8.8% to 46,000 tonnes.

By countries, the export decreased by 10.7% to 838,000 tonnes to South Korea, year-to-year minus for 6 consecutive months. Chinese steel export to South Korea increased mainly for hot rolled wide strip while Korean steel makers expanded production capacities. The export to China decreased by 5.6% to 575,000 tonnes, year-to-year minus for 2 months in a row. The export to Thailand decreased by 15.9% to 387,000 tonnes, first downturn in 2 months. The export to the U.S.A. decreased by 3.2% to 143,000 tonnes, first downturn in 3 months. Meanwhile, the export to Taiwan increased by 8.8% to 271,000 tonnes, first upturn in 3 months.