JISF: Japanese steel exports and imports increased during Oct '14

TOKYO (Scrap Monster): The most recent trade data released by the Japan Iron and Steel Federation (JISF) indicates that steel imports and exports by Japan increased during the month of October this year.

The country’s exports of steel products were up by 8.6% to 3.55 million tons when compared with the same month a year ago. The revenue generated by steel products exports by the country totaled ¥34.63 billion, nearly 12% higher when compared with the previous year.

The Japanese steel exports to Asian region totaled 2.69 million tons, accounting for three-fourth of the total exports by the country during Oct ’14. The exports to Asian countries increased by 4.6% over the year. However, the steel products export to China dropped nearly 6% during the month.

The Japanese steel imports during Oct ’14 totaled 735,000 tons. The imports from Asia totaled 629,800 tons, accounting for 85% of the imports by Japan. The imports from Asian countries surged higher by 9.8% during the month. The imports from China surged significantly higher by 58% to 156,000 tons. The imports from Russia too went higher by 12% over the year to 28,000 tons.

Meanwhile, the country’s crude steel production hit the highest monthly levels of the current fiscal. The country produced 9.36 million tonnes of crude steel in Oct ’14. The cumulative crude steel output by the country since April ’14 totaled 64.92 million tonnes, slightly down by 0.6% when compared with the output during April to October in 2013.