Japan Steel Export Increases by 5.7% in June

Japanese steel export increased by 5.7% to 3.478 million tonnes in June from May, which increased for 3 months in a row, according to Ministry of Finance. Japanese car makers’ overseas plants recovered output after impact by disaster of earthquake. The export decreased by 9.2% June from a year earlier, which decreased for 4 consecutive months due to higher yen rate. The export decreased by 2.2% to 21.364 million tones for January-June from the same period of last year. Japanese steel import showed over 700,000 tonnes for 2 consecutive months through June due to higher yen rate.

The export increased by 1.3% to 2.814 million tonnes in June from May. The export increased by 1.4% to 578,000 tonnes to China and by 0.1% to 942,000 tonnes for ASEAN while decreased by 4.8% to 1.163 million tonnes to South Korea, Taiwan, Singapore and Hong Kong. The export increased by 58.7% to 119,000 tonnes for Middle East. The average export price decreased by 0.3% to FOB 92,989 yen per tonne in June from May, which decreased for 2 consecutive months.

Japanese steel import decreased by 1.8% to 702,798 tonnes in June from May, which decreased for the first time in 4 months. The import increased by 4.0% in June from a year earlier. The import increased by 13.5% to 3.839 million tonnes for January-June from the same period of last year due to demand for reconstruction in disaster area.

The import decreased by 0.1% to 561,931 tonnes from Asia in June from May. The import increased by 0.4% to 362,940 tonnes from South Korea, Taiwan, Singapore and Hong Kong, 18.9% to 169,701 tonnes from China while decreased by 70.1% to 9,818 tonnes from ASEAN. The averaged import price increased by 4.5% to CIF 119,322 yen per tonne, which increased for 2 consecutive months.