Japan's stainless steel exports dropped 6% in Nov '14

TOKYO (Scrap Monster): According to latest data released by the Japanese Ministry of Finance (MoF), the country’s stainless steel exports declined sharply during the month of November last year. Japan’s total stainless steel exports during the month amounted to 91,646 tons, down 5.7% from the previous month. The country’s stainless steel exports had totaled 97,186 tons during October 2014.

The largest export destination of Japanese stainless steel was China. The exports to China totaled 15,369 tons. The exports from Japan to China dropped by 16.2% when compared with the exports during October 2014. In second place was South Korea with total imports of 15,472 tons. The stainless steel exports to South Korea jumped higher by 4% month-on-month. The third largest export destination was the US. The country’s imports of Japanese stainless steel totaled 6,321 tons, 43.3% higher over the previous month.

The average export price of stainless steel from the country during Nov ’14 was $3,650 per ton, declining almost 8.5% when compared with the previous month. The exports of stainless steel generated total revenue of $334 million during the month.