Japan Coke Import Price Hits 70,000 y/t High in August

Japanese coke import unit price increased by 27.4% to CIF 77,500 yen per tonne in August from July, which reached 70,000 yen for the first time, according to Ministry of Finance. Iron ore and coal price is increasing, too. Higher yearly contract price is pulling up coke import price. Total material import increased by 181 billion yen in August from a year earlier. The import corresponds at 2171.8 billion yen per annual base. The coal import increased by 128.7 billion yen in August from a year earlier when the coal import volume increased by 16% and the average import price increased by 2.4 times. Coal import will reach 1544.7 billion yen per annual basis. The iron ore import increased by 33.5 billion yen in August from a year earlier, corresponds 402 billion yen per annual basis. The iron ore import price increased by 52% for CIF base in August. The iron ore import is expected to rise when higher yearly contract price, double price of Australian ore over the previous year, reflects from now.