Japan: Finish Long Steel Exports Surge 16% in August

Japan, the world’s 3rd largest steel producer has increased its Finish long steel exports in the month of Aug’18 on monthly premises.

As per the custom data, the nation has exported about 0.21 MnT Finish Long steel in August 2018 increased by 16.67% against 0.18 MnT in July 2018. In line Y-o-Y, exports were elongated by 5% against 0.2 MnT in Aug’17.

Under Finish Long commodities following HS Codes has been considered – Bar & Rod (HS Code 7213 & 7214), MS Wire (HS Code 7217) along with Angle & Shapes (HS Code 7215 & 7216).

During July, Bar’s & Rods have contributed the major exports proportionate and registered at 0.14 MnT (0%) followed by Angle and Shapes 0.06 MnT (+50%) and remaining was Wire Rod 0.01 MnT (0%).

As per SteelMint’s assessment, in August 2018 the crude steel production of the Japan registered at 8.81 MnT which is also slightly up by around 4.63% M-o-M against 8.42 MnT in July 2018.

Country wise

In the month of August 2018, the largest importer of Finish Long Steel from Japan was South Korea – 0.06 MnT (+20%), Thailand – 0.03 MnT (0%) & U.S.A at 0.03 MnT (200%).

Key Updates

— As per sources, Mexico has renewed the existing Additional Duty (AD) of 99.9% in Seamless pipe origin by Japan.

— As per last assessment, Japan’s H2 ferrous scrap export prices stood at Yen 35,500- 36,000/MT FOB Tokyo.

— Japan’s leading EAF steel mill Tokyo witnessed sharply increased prices at all plants witnessing 7 successive price hikes in Sep’18 amid increased production hours. Prices climbed up by JPY 1,500-3,000/MT (USD 13-27) M-o-M in Sept’18 hitting two years’ high at Okayama and Kyushu.