Japanese iron and steel exports fall 31.6 percent in H1 2009

According to the customs statistics released by the Japanese Ministry of Finance, the country's total iron and steel product exports in June 2009 amounted to 2.874 million metric tons, increasing by 33 percent month on month, but decreasing by 11 percent, compared to June 2008, generating a total of $2.621 billion in value. Meanwhile, Japanese iron and steel product imports in June fell by 1.2 percent over May and decreased by 64.1 percent year on year to 281,098 metric tons, reaching a total value of $349 million.

On the other hand, in the first half of the current year, Japan's total iron and steel product exports slid 31.6 percent year on year to 13.698 million metric tons.

Regarding to Japan's major export markets, in the first six months of 2009 country's iron and steel product exports to South Korea totaled 4.16 million metric tons, down 18.8 percent, exports to China amounted to 2.814 million, down 18.5 percent, export volume to Taiwan reached 1.208 million metric tons, down 39.8 percent, 823,000 metric tons to Thailand, down 63.6 percent and 558,500 metric tons to USA, down 34.6 percent, all compared to corresponding period of 2008.

However, Japanese iron and steel product exports to country's main export markets surged in June, over May 2009. Exports to South Korea rose by 11.1 percent, to China by 35.7 percent, to Taiwan by 15.7 percent, to Thailand by 71.1 percent and to USA by 61.4 percent. Exports to these markets corresponded to 67.21 percent of the total iron and steel exports in June 2009.

In the first half of 2009, Japan's total iron and steel product imports totaled 1.892 million metric tons, down 53.5 percent compared to the same period of the previous year.

In the first six months of 2009 Japan imported 766,450 metric tons of iron and steel products from South Korea, down 44.9 percent, 348,600 metric tons from China, down 64.4 percent and 276,400 metric tons from Taiwan, down 39.2 percent, all compared to H1 2008.