Posted on 06 Sep 2022
Apart from an increase in imports month-on-month, Japan’s imports and exports have seen significant declines in July, according to data released by the Japan Iron & Steel Federation (JISF).
Japan exported 2.48 million tonnes of iron and steel products in July, down 19.8% m-o-m and 18.9% year-on-year, and 19.44mt over January-July, a y-o-y decrease of 2.8%, Kallanish notes.
The major export products all saw similar declines. By country, Thailand surpassed South Korea as the largest consumer in the reporting month as it decreased more slowly. China was reinstated third place.
Imports, meanwhile, were down 7.6% m-o-m but up 5% y-o-y at 621,839t in July. Year-to-date volumes totaled 4.32mt with a fall of just 0.1% y-o-y.
Wire rod was the only one to post increases among the major products, rising 41.7% m-o-m and 22.7% y-o-y to 39,221t in July. The ranking of the top three suppliers has not changed, and South Korea, the largest, lifted its market share thanks to stable volumes.
South Korea exported 261,249t of iron and steel products to Japan in July, down just 0.3% from June but up 10.8% y-o-y. Shipments from China and Taiwan dropped 10.4% and 24.8% from the prior month, respectively.
Source:Kallanish
