Japan's iron and steel product exports decrease further in July

In July this year, Japan's iron and steel product exports amounted to 3.33 million metric tons, decreasing by 7.9 percent month on month and down 8.4 percent year on year, while Japan's iron and steel product imports totaled 779,498 metric tons, with a month-on-month increase of 1.6 percent and a year-on-year increase of 17.6 percent, according to the customs statistics released by the Japanese Ministry of Finance (JISF).
 
In the January-July period of the current year, Japanese iron and steel product exports amounted to 24.11 million mt, decreasing by 7.3 percent, while Japanese iron and steel product imports came to 5.65 million mt, increasing by 34.2 percent, both compared to the January-July period of 2013.
 
Regarding Japan's major iron and steel product export markets, in the first seven months of this year the country's iron and steel exports to South Korea totaled 4.24 million mt, down 9.5 percent, while exports to China decreased by 0.7 percent to 3.48 million mt, the export volume to Taiwan amounted to 2.05 million metric tons, down 14.9 percent, exports to Thailand totaled 3.19 million metric tons, down five percent, while exports to the US came to 1.38 million metric tons, increasing by 1.7 percent, all compared to the same period of 2013.
 
In the January-July period of the current year, Japan imported 2.56 million metric tons of iron and steel products from South Korea, up 28.6 percent, it imported 1.28 million metric tons from China, up 79.9 percent, while imports from Taiwan rose to 702,752 metric tons, increasing by 20.1 percent, all compared to the same period of 2013.