Japan Stainless Steel Export Drops by 22.8% in January

Japanese stainless steel export including sheet, bar and pipe decreased by 22.8% to 4,943 tonnes in January form December, which decreased for 4 consecutive months. The export decreased by 39.2% in January from a year earlier when stainless steel demand is dropping worldwide.

Because the inventory adjustment for stainless steel didn’t finish globally until January or there were Chinese New Year holidays in February, the export decreased in January.

After February, stainless steel makers in Asia still continue output cut. Japanese maker source said the export increases in February from January when the inventory adjustment is progressing in Asia.

However, in fact, the export is expected to decrease in February form a year earlier. The export was 116,959 tonnes in February 2008. The export price of stainless steel sheet keeps US$ 2,100-2,200 per tonne for base size with 2 millimeters thick of SUS304. The export is expected to keep low level due to higher yen rate.