Japanese iron and steel imports fall 21.2 percent in Feb over Jan

According to the customs statistics released by the Japanese Ministry of Finance, the country's total iron and steel product exports in February this year amounted to 3.42 million metric tons, decreasing by 0.5 percent month on month and up 81.6 percent compared to February 2009, generating a total of $3.15 billion in value. Thus, February was the second month in a row that a drop on month-on-month basis was recorded. Meanwhile, Japanese iron and steel product imports in February dropped by 21.2 percent over January and were up 47.4 percent year on year to 427,203 metric tons, reaching a total value of $516.44 million.

Regarding Japan's major export markets, in February the country's iron and steel product exports to South Korea totaled 856,730 metric tons, decreasing by 9.7 percent month on month but up 42 percent compared to February 2009; exports to China declined by 3.9 percent over January and amounted to 576,520 metric tons, up 51.6 percent year on year; the export volume to Taiwan reached 292,580 metric tons, down 10.8 percent month on month and climbing by 95.7 percent year on year; exports to Thailand totaled 354,330 metric tons, decreasing by 11.7 percent over January and up 142.7 percent compared to the year-ago period; while exports to the US came to 125,550 metric tons, increasing by 81.6 percent month on month and up 85.6 percent year on year.

In February, Japan imported 163,280 metric tons of iron and steel products from South Korea, down 22.7 percent over January and up 49.1 percent year on year, it imported 78,806 metric tons from China, decreasing by 37.7 percent month on month and up 91.1 percent year on year, while imports from Taiwan came to 73,425 metric tons, increasing by 22.2 percent over the previous month and up 106.6 percent year on year.