Japan's CR wide strip exports declined sharply in January

TOKYO (Scrap Monster) : According to latest statistics released by the Japanese Ministry of Finance (MoF), the country’s exports of cold rolled wire strips dropped sharply during the month of January this year. The exports by the country totaled 219,187 tons during the month. The exports fell 17.8% over the previous month. However, when compared with the exports during January 2013, the exports were marginally higher by 1.5%.

The average export prices of CR wide strips remained flat over the previous month. The export prices averaged at $742.5 per ton FOB during January 2014. The export prices were down by 2.6% when compared with the prices during the same month a year ago.

The largest export destination of Japanese CR wire strip was China. The country’s exports to China totaled 58,021 tons during the month, rising 27.2% over the previous month. The second largest importer of Japanese CR wire strip was Korea. However, the exports to Korea declined 6.8% over the previous month to touch 4,683 tons during January. The third largest export destination was Taiwan. The exports to Taiwan totaled 3,218 tons, remaining more or less flat over the prior month.