Japan, one of the largest steel producers has registered fall in long steel exports in the month of Nov’18 on monthly premises.
As per customs, the nation has exported about 199,716 MT Finish Long steel in November 2018 lower by 12.45% against 228,130 MT in October 2018. In line Y-o-Y, exports were fell by around 11% i.e. 224,241 MT in Nov’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 140,015 MT (-12.64%) followed by Angle and Shapes 52,422 MT (-12.54%) and remaining was Wire Rod 7,279 MnT (-7.91%).
It seems that, the exports down as steel prices plunged globally during the tenure which has forced producers to sell domestically amid better realizations as exports of other products being corrected in Nov’18. Ferrous Scrap export registered at 0.49 MnT in Nov’18 against 0.57 MnT in Oct’18, slashed by 14% M-o-M. Meanwhile on M-o-M, the country’s billet exports unaltered a 0.32 MnT in Nov’18.
Country wise:
In the month of November 2018, the largest importer of Finish Long Steel from Japan was South Korea – 66,099 MT (-14%), Thailand – 30,931 MT (-19%) & China at 22,739 MT (-7%).
Imports
Japan’s Finish Long Import declined by 25.67% in November 2018 to 47,978 MT against 64,549 MT in Oct’18 and the major exporter registered as South Korea at 24,668 MT followed by China – 10,720 MT and Vietnam – 4,365 MT.
On contrary, yearly comparison imports elongated by 35.71% and stood at 35,352 MT in Nov’17.
As per the SteelMint’s assessment, in November 2018 the crude steel production of the Japan registered at 8.65 MnT which is slightly up by 1.16% M-o-M, against 8.56 MnT in October 2018.
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