Japan Iron Ore Import Increases by 85% in September

Japanese iron ore import increased by 85% in September from the recent bottom of March, according to Ministry of Finance. The import reached 10 million tonnes for the first time in 9 months. Material import temporarily halved from the peak level along Japanese integrated steel makers’ output reductions. The import increased thanks to the makers’ output rebound.

Nippon Steel expects its crude steel shipment would increase by 31% for the second half of fiscal 2009 ending in March 2010 compared with the first half fiscal year. Sumitomo Metal Industries and Kobe Steel also expect for crude steel output increase for the second half fiscal year, while JFE Steel shows a concern for the market condition in January-March.

Japanese iron ore import is likely to keep the uptrend.