Japan Carbon Steel Export Drops by 3.5% in October

Japanese carbon steel export decreased by 3.5% to 2.104 million tonnes in October from a year earlier, which represented the first year-to-year down in 10 months, announced Japan Iron & Steel Federation on Monday. The export decreased by 11.9% compared with September due to business downturn mainly in Asia. Japanese special steel export increased by 12% to 496,000 tonnes in October from a year earlier while semi-finished steel export decreased by 23.1% to 310,000 tonnes and secondary processed steel export decreased by 1.8% to 62,000 tonnes.

The total steel export including pig iron and ferroalloys decreased by 4.3% to 2.997 million tonnes in October from a year earlier, which showed the first y/y decline in 11 months. However, the export value was US$ 4.279 billion in October, which kept y/y increase for 29 straight months. The total steel export decreased by 22.1% in October from September. The export value decreased by 7.8% in October from September and both exports showed the first y/y down since August of this year.

The export decreased by 10% to 530,000 tonnes for hot-rolled wide strip in October from a year earlier, which turned into y/y decrease since August 2008. The export decreased by 21.6% to 103,000 tonnes for welded pipe, by 8.5% to 81,000 tonnes for shaped steel, by 4.9% to 63,000 tonnes for seamless steel pipe and by 2.3% to 34,000 tonnes for wire rod. Meanwhile, the export increased by 0.3% to 480,000 tonnes for galvanized steel sheet, which kept y/y increase for 5 months in a row. The export increased by 4.3% to 293,000 tonnes for plate, by 7.1% to 273,000 tonnes for cold-rolled wide strip and by 24.5% to 31,000 tonnes for steel bar.

The total export decreased by 26.9% to 610,000 tonnes for South Korea in October from a year earlier, which represented y/y down since August 2008. The export decreased by 13.4% to 277,000 tonnes for Taiwan, which showed y/y decline for 3 straight months. On the other hand, the export increased by 15.8% to 593,000 tonnes for China, keeping y/y increase for 4 months. The export increased by 8.4% to 417,000 tonnes for Thailand, increasing for straight 24 months and by 31.1% to 151,000 tonnes for USA, increasing for 5 months.