Japan Steel Export Hits Record High in September

Japanese steel export increased by 4.2% to 3.705 million tonnes in September from the previous month, increasing for 2 months in a row, announced by Ministry of Finance on Monday. The export volume hit record high as the past September. The export increased mainly for high grade steel products applied to automobiles and appliances in ASEAN area. The export totaled 21.434 million tonnes for April-September, which increased by 24.3% from the corresponding period of 2009 and hit record high as April-September. As for the second half of fiscal 2010 ending in March 2011, Japanese steel makers are concerned on impact of strong yen trend.

Steel demand is expanding in ASEAN. Thai government forecasts domestic car production increases by 1.6 times in 2010 from 2009. Japanese steel makers and dealers are also increasing order receipts for construction materials when ASEAN members actively construct infrastructures.

By year-on-year comparison, Japanese steel export increased by 19.4% in September and represented plus for 14 straight months. The export ratio was 38.7% against Japanese crude steel output in the first half of fiscal 2010, down from 40.1% in the same period of fiscal 2009.

The export to Asia increased by 4.6% to 3.039 million tonnes in September from August, increasing for 2 months in a row. The export increased by 1.4% to 1.351 million tonnes to NIES countries while by 9.0% to 1.03 million tonnes to ASEAN countries. The export to China decreased by 1.8% to 589,000 tonnes. Average export price lowered by 1.9% to FOB 85,845 yen per tonne. Total export value increased by 2.3% to 318.056 billion yen.

Japanese steel import decreased by 13.6% to 527,493 tonnes in September from August, minus for 3 straight months. Average import price upped by 5.8% to CIF 118,422 yen per tonne. Total import value lowered by 7.5% to 62.467 billion yen. The import from Asia decreased by 11.5% to 373,548 tonnes. The import from China dropped by 32.4% to 70,737 tonnes. The import from NIES decreased by 5.8% to 277,196 tonnes. The import totaled 3.714 million tonnes for April-September, almost double from the corresponding period of 2009.