According to the provisional data released by the Japanese Ministry of Finance, in October this year Japan's iron and steel product exports came to 3.3 million metric tons, decreasing by 5.7 percent month on month and down 1.1 percent as compared to the same month of the previous year, while these exports generated a value of JPY 273.2 billion ($3.3 billion), down 3.75 percent compared to September and down 9.7 percent on year-on-year basis. Japan's iron and steel product exports decreased by 3.15 percent in tonnage basis in September from August.
In the given month, Japan's iron and steel product exports to the US increased by 16.3 percent to 147,000 metric tons, its exports to the EU decreased by 44.7 percent to 30,000 metric tons, while iron and steel exports to China decreased by 8.2 percent to 480,000 metric tons, exports to the Middle East increased by 37.1 percent to 153,000 metric tons, and iron and steel exports to ASEAN countries rose by 3.5 percent to 1.08 million metric tons, all compared to October 2011.
Meanwhile, Japanese iron and steel product imports amounted to 734,794 mt in October this year, decreasing 7.4 percent compared to the same month of the previous year, with a value of JPY 68.9 billion ($839.4 million), down 23.5 year on year. Japan's iron ore and concentrate imports in the month in question amounted to 11.8 million mt, up by 11.6 percent year on year, with a value of JPY 130.7 billion ($1.6 billion), falling 10.8 percent compared to October 2011.