Japan Steel Export Decreases by 9.5% in 2009

Japanese steel export decreased by 9.5% to 34.152 million tonnes in 2009 from 2008, which lowered by 36.4% to 2.908 trillion yen in value, announced by Ministry of Finance on Wednesday. Japanese steel import decreased by 43.1% to 4.394 million tonnes in 2009 from 2008, lowering by 58.1% to 497.583 billion yen in value.

World steel demand fell off in 2009. The import volume decreased from all blocks and countries. The import value reduced largely due to higher yen rate and less import volume. The export volume decreased for the first time since 2005. The export value lowered for the first time since 1999.