MoF: Japan’s steel exports declined 3.2pct in November, imports surged

29-Dec-2016 Intellasia | Metal | 6:00 AM Print This Post

According to data, the export quantity of steel products totalled 3.228 million tonnes (Mt) during November 2016.

The recent trade statistics released by the Japanese Ministry of Finance (MoF) suggests marginal decline in country’s steel exports during the month of November this year. The exports during the month witnessed decline when matched with those during the previous month. However, the exports were up marginally in comparison with those during the same month a year before. The value of exports was down by 12 percent to Yen 227.2 billion during the month.

According to data, the export quantity of steel products totalled 3.228 million tonnes (Mt) during November 2016. The exports dropped by 3.2 percent over the previous month. The Japanese steel exports had totalled 3.335 million tonnes during October this year. When compared with exports during November last year, the November ’16 exports were up marginally by 0.6 percent. The country’s steel exports had totalled 3.209 million tonnes during November ’15.

The key destination of Japanese steel exports during the month was the Asian region. The exports to Asia were up marginally by 1.0 percent over the previous year to 2.454 million tonnes, accounting for more than three-fourths of the total steel exports by Japan during the month. Among Asian countries, China accounted for bulk of imports. The Chinese imports of Japanese steel have totalled 435,000 tonnes during the month, significantly higher by 7.2 percent when matched with the previous year. However, the imports by China were down by nearly 3 percent over the previous month.

Asian Newly Industrialised Economies (NIEs) imported 780,000 tonnes of steel products from Japan. The exports to the region dropped by 1.4 percent month-on-month. The exports to Asean countries surged higher by over 8 percent during the month to total 1.076 million tonnes. Among exports to remote regions, the Middle East accounted for 96,000 tonnes of steel products import from Japan. The exports to the region dropped sharply by 11.6 percent over the previous month. Russia imported around 1 million tonnes of steel products from Japan, declining sharply by 36 percent month-on-month. The imports by the US dropped considerably by one-fourth to 147,000 tonnes, whereas the imports by the EU region declined by nearly 15 percent to 17,000 tonnes.

According to MoF data, Japan’s imports of steel products totalled 702,000 tonnes during November ’16, rising by 3.1 percent when matched with the previous month and by 8.1 percent when matched with the same month a year before.

The key exporter of steel products to Japan during the month was the Asian region. The imports from the region totalled 592,000 tonnes, accounting for nearly 84 percent of total steel imports by Japan in November ’16. The exports from the Asian region surged higher by over 10 percent year-on-year during the month. Among Asian countries, China accounted for 112,000 tonnes, dropping sharply by nearly 22 percent over the year. The imports from Asian NIEs were up by nearly 23 percent to total 450,000 tonnes. The Asean region countries exported 16,000 tonnes, rising significantly by 30.9 percent.

Among imports from remote regions, those from the EU region surged higher significantly by 36 percent to 11,000 tonnes. The imports from Russia too were up sharply by around 69 percent to 26,000 tonnes during November this year.

The latest forecast by the Japanese Ministry of Economy, Trade and Industry (METI) suggests marginal rise in crude steel output during Q1 2017. The country’s crude steel production is expected to increase by 1.8 percent over the previous year to 26.32 million metric tonnes during Jan-March ’17. The overall demand for steel products is expected to climb higher by 1.5 percent during the quarter. The country’s crude steel output had declined by 1.4 percent to 8.6 million tonnes during November this year, as per World Steel Association monthly data.

https://news.metal.com/newscontent/100717162/mof-japans-steel-exports-declined-3.2-in-november-imports-surged

 


Category: Japan

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