Japan Carbon Steel Export Shows First Drop in 13 Months

Japanese carbon steel export decreased by 3.9% to 2.225 million tonnes in October from a year earlier, which represented first decline in 13 months, announced by Japan Iron and Steel Federation on Wednesday. The export was 9.4% lower than September, which was first drop in 3 months. The export slowed due to weak market price in Asia under inventory adjustment and yen appreciation.

The total steel export volume represented year-on-year decrease for the first time in 15 months. However, the value increased to US$ 3.825 billion or 318.8 billion yen, which increased for 10 months in a row.

The total steel export decreased by 17.9% to 809,000 tonnes to the largest destination of South Korea in October from a year earlier, which decreased for 2 months in a row. The export decreased by 11.1% to 299,000 tonnes to Taiwan, by 9.0% to 374,000 tonnes to Thailand and by 34.6% to 92,000 tonnes to USA. On the other hand, the export to China increased by 5.6% to 599,000 tonnes, which increased for the first time in 4 months.