Japanese iron and steel exports hit record high in March

In March, Japan's iron and steel exports rose for the third straight month and surpassed 4 million mt for the first time.

According to the customs statistics released by the Japanese Ministry of Finance, the country's total iron and steel product exports in March this year amounted to 4.21 million metric tons, increasing by 23.1 percent month on month and up 60.6 percent compared to March 2009, generating a total of $3.88 billion in value. Meanwhile, Japanese iron and steel product imports in March improved by 20.8 percent over February and were up 72.3 percent year on year to 515,940 metric tons, reaching a total value of $632.27 million.

Regarding Japan's major export markets, in March the country's iron and steel product exports to South Korea totaled 1.15 million metric tons, increasing by 34.4 percent month on month and up 39 percent compared to March 2009; exports to China rose by 16.8 percent over February and amounted to 673,258 metric tons, up 35.9 percent year on year; the export volume to Taiwan reached 428,392 metric tons, up 46.4 percent month on month and climbing by 113.6 percent year on year; exports to Thailand totaled 427,392 metric tons, increasing by 20.6 percent over February and up 256.5 percent compared to the year-ago period; while exports to the US came to 113,738 metric tons, decreasing by 9.4 percent month on month and down 27.6 percent year on year.

In March, Japan imported 220,251 metric tons of iron and steel products from South Korea, up 34.9 percent over February and up 91.3 percent year on year, it imported 89,388 metric tons from China, increasing by 13.4 percent month on month and up 45.6 percent year on year, while imports from Taiwan came to 59,714 metric tons, decreasing by 18.7 percent over the previous month and up 31.6 percent year on year.