JPN Ferroalloy Import Unit Price Jumps by 45% in F2008

Japanese ferroalloy import decreased by 4.3% to 2.03 million tonnes per year in fiscal 2008 (Apr08-Mar09) from fiscal 2007 while the averaged unit price of imported ferroalloy surged by 45.2% to CIF 261,400 yen per tonne, according to the trade statistics by Ministry of Finance. The total import value was 530.1 billion yen per year in fiscal 2008, up by 38.9% or 148.5 billion yen from fiscal 2007.

In the first half of fiscal 2008, international market price of ferroalloy jumped up. Especially, manganese based ferroalloy and ferrochrome hit the record price. On the contrary, the market price dropped down and Japanese ferroalloy import decreased in the second half year. However, the total import value expanded through fiscal 2008 due to the upsurge of averaged unit price.

In March, averaged unit price of imported ferrosilico-manganese rebounded for the first time since September 2008. The unit price rebounded by 10.6% to CIF 138,500 yen per tonne compared with February. The unit price of imported ferrosilicon surged by 17.2% month-to-month in March, which increased for 2 months in a row. Meanwhile, the unit price of high carbon ferromanganese represented month-to-month down for 7 straight months. Consequently the unit price for all ferroalloy was CIF 217,500 yen per tonne in March, down by 3.1% from February.

Japanese ferroalloy import was 73,400 tonnes in March, which decreased by 16.5% month-to-month and by 48.4% year-to-year. High carbon ferromanganese import dropped by 90.5% month-to-month. Ferrochrome import decreased by 33.4% month-to-month.