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TOKYO (Scrap Monster): Japan's total steel exports declined by 4Y year-on-year to 20.78 million metric tons in the first half of this year while its imports dipped by 2% year-on-year to 3.9 million metric tons, as per latest customs data released by the Japanese Ministry of Finance.

According to the customs data, Japan's iron and steel product exports rose by 3.1% year-on-year to 3.6 million metric tons in the month of June this year and down by 10% month-on-month while its imports dropped 12.6% year-on-year to 643,500 metric tons and dropped by 6.4% month-on-month.

Regarding Japan's major steel export markets, in June the country's steel exports to South Korea totaled 707,476 mt, down 6.6 percent, while steel exports to China decreased by 16.1 percent to 498,012 metric tons; the export volume to Taiwan amounted to 324,406 metric tons, down 4.1 percent; exports to Thailand totaled 432,816 metric tons, down 9.25 percent; while exports to the US came to 228,977 metric tons, increasing by 4.4 percent, all compared to the previous month.

In June, Japan imported 243,308 metric tons of steel from South Korea, down 8.5 percent, it imported 26,977 metric tons from China, down by 37.3 percent, while imports from Taiwan fell to 70,551 metric tons, decreasing by 13.8 percent, all compared to the previous month.