Japan Steel Export Rises by 13.3% in February

Japanese steel export decreased by 13.3% to 3.193 million tonnes in February from a year earlier, announced by Ministry of Finance on Thursday. The export increased by 9.4% from January and hit 3 million tonnes for the first time in 2 months. However, the volume decreased by 16.3% for Asia under high yen rate and low level market price. The yen rate decreases and the market price recovers since late February. Japanese steel export could increase in March.

The import increased by 6.9% to 580,610 tonnes in February from a year earlier, which increased for 10 months in a row, while the volume was 13.2% lower than January level.

The averaged unit export price decreased by 2.3% to FOB 86,746 yen per tonne in February from January.

The export decreased by 16.3% to 2.469 million tonnes for Asia in February from a year earlier. The export decreased by 14.3% to 520,000 tonnes for China, by 16.9% to Asian Newly Industrialized Economies and by 12.4% to Association of Southeast Asian Nations. The export increased by 8.6% to Asia from January. The export increased by 22.3% for China and by 9.6% for NIES while the export was same level for ASEAN as January. The export jumped to USA at 233,000 tonnes, which was 95.8% higher than a year earlier and 37.9% higher than January level.

The import increased by 18.0% to 482,167 tonnes from Asia in February from a year earlier. The import increased by 38.1% to 94,021 tonnes from China, by 19.5% to 369,368 tonnes from NIES and by 39.1% to 8,884 tonnes from ASEAN.