In May, Japan's iron and steel exports improved as compared to the previous month, after declining in April.
According to the customs statistics released by the Japanese Ministry of Finance, the country's total iron and steel product exports in May this year amounted to 3.6 million metric tons, increasing by 2.7 percent month on month and up 66.7 percent compared to May 2009, generating a total of $3.68 billion in value.
Meanwhile, Japanese iron and steel product imports in May declined by 7.6 percent over April and were up 126.1 percent year on year to 642,916 metric tons, reaching a total value of $731.65 million.
Regarding Japan's major export markets, in May the country's iron and steel product exports to South Korea totaled 938,450 metric tons, increasing by six percent month on month and up 34.2 percent compared to May 2009; exports to China dropped 9.7 percent as compared to April and amounted to 608,946 metric tons, up 31.8 percent year on year; the export volume to Taiwan reached 248,646 metric tons, down 17.2 percent month on month and increasing by 10 percent year on year; exports to Thailand totaled 460,083 metric tons, increasing by 23 percent over April and climbing by 4.61 times compared to the year-ago period; while exports to the US came to 147,370 metric tons, increasing by 19.4 percent month on month and up 148.6 percent year on year.
In May, Japan imported 279,556 metric tons of iron and steel products from South Korea, up 22.2 percent over April and up 109.9 percent year on year, it imported 147,534 metric tons from China, increasing by nine percent month on month and up 190.6 percent year on year, while imports from Taiwan came to 66,686 metric tons, decreasing by eight percent over the previous month and up 63.9 percent year on year.