Japan Carbon Steel Export Drops by 49.4% in February

Japanese carbon steel export decreased by 49.4% to 1.225 million tonnes in February from a year earlier, which decreased for 5 consecutive months in a row, announced by Japan Iron and Steel Federation on Wednesday. The export decreased by 7.7% in February from January. The export situation keeps low due to higher yen rate, weak demand and price. The special steel export decreased by 49.9% to 270,000 tonnes. The semi-finished steel export decreased by 34.8% to 295,000 tonnes while the processed steel export decreased by 55.2% to 27,000 tonnes.

The total steel export including pig iron and ferroalloy decreased by 46.7% to 1.883 million tonnes in February from a year earlier, which decreased for 5 months in a row. The total export value lowered to US$ 2.41 billion or 217.3 billion yen, year-on-year minus for 2 consecutive months on US dollar base and for 3 consecutive months on yen base.

The carbon steel hot rolled wide strip export decreased by 63.9% to 271,000 tonnes in February from a year earlier, which decreased for 5 months in a row. The carbon steel export decreased by 57.8% to 178,000 tonnes for galvanized steel sheet, by 47.3% to 135,000 tonnes for cold rolled wide strip, both of which decreased for 4 straight months. The export deceased by 37.3% to 47,000 tonnes for magnetic steel sheet, by 75.1% to 39,000 tonnes for shaped steel, by 49.9% to 38,000 tonnes for steel bar and by 63% to 17,000 tonnes for wire rod.

The export decreased by 2.5% to 267,000 tonnes for plate, which decreased for the first time in 3 months. The export decreased by 17.2% to 55,000 tonnes for seamless steel tube, which decreased for the first time in 2 months.

The carbon steel export to South Korea decreased by 39.8% to 603,000 tonnes in February from a year earlier, which decreased for 5 straight months. The export decreased by 29.5% to 380,000 tonnes bound for China and by 61% to 146,000 tonnes for Thailand, both of which decreased for 4 continuous months. The export to Taiwan decreased by 50.6% to 149,000 tonnes, down for 7 straight months. The export to USA decreased by 53% to 68,000 tonnes, decreasing for the first time in 2 months.