Japanese HRC exports surged 10% in June '14: MoF

TOKYO (Scrap Monster): According to statistics released by the Japanese Ministry of Finance (MoF), the country’s exports of Hot Rolled Coils (HRC) increased during the month of June this year.

MoF data indicates that HRC exports by the country totaled 1.017 million tons during the month. This is 10.4% higher when compared with the exports during the same month a year ago. The exports during June 2013 had totaled 921,000 tons. When compared with the previous month, the country’s June ’14 exports went higher by 4.6%. Japan had exported 972,300 tons of HRC during May this year.

The HRC export prices during June this year averaged at $576.80 per ton. The average prices fell by 1.8% over the previous month. On year-on-year basis, the average export prices dropped significantly by 8.1% when compared with the prices during June 2013.

The largest export destination of Japanese HRC was South Korea. The exports to South Korea totaled 191,420 tons with an average price of $564.5 per ton. The second largest importer of Japanese HRC was China. The exports to China totaled 80,025 tons. The average export price to China stood at $652.6 per ton.