According to latest customs data released, Japan flat steel exports which includes 7208 (HR coils /Plates), 7209 (CR coils), 7225 (Electrical sheets),7210/7212(GP/GC) registered decline of 9% M-o-M in Feb’18.
Country has exported 1.96 MnT of flat steel in Feb’18 which was 2.15 MnT in previous month.Also on yearly basis nation’s flat steel exports reported decline of 10% in Feb’18 against 2.18 MnT in Feb’17.
Japan’s Ministry of Economy, Trade and Industry (METI) had forecasted for fourth quarter of fiscal year 2017-18 (Jan-Mar’18) that country’s exports are estimated to decline by 2.8% in Q4 FY18 over the period as the steelmakers prioritize domestic market over exports due to tightening of domestic supply, the ministry said.
During first two months (Jan-Feb ) of CY18 nation’s flat steel exports summed up to 4.11 MnT fell by 5% in comparison with 4.33 MnT in corresponding time frame of previous year.
Japan: Commodity Wise Flat Steel Exports in Feb’18
| Sub Commodity | Feb’18 | Jan’18 | M-o-M (Change in %) |
Feb’17 | Y-o-Y (Change in %) |
| HRC/Plate | 1.08 | 1.21 | -10.74 | 1.22 | -11.47 |
| Electrical Steel | 0.44 | 0.51 | -13.72 | 0.49 | -10.20 |
| Galvanised Steel | 0.24 | 0.23 | 4.34 | 0.26 | -7.69 |
| CRC | 0.18 | 0.19 | -5.26 | 0.21 | -14.28 |
| Others | 0.01 | 0.01 | 0 | 0.01 | 0 |
| Grand Total | 1.96 | 2.15 | -9% | 2.18 | -10% |
Strong demand in domestic market lead to subsequent fall in export volumes- Japan Iron and Steel Federation commented that nation’s steel demand in domestic market remains strong.Steel prices have risen on increased production by automakers, while construction is in full swing for Tokyo’s 2020 Olympics and a series of redevelopment projects in the Tokyo metropolitan area.
Country-wise Japan flat steel exports in Feb’18- China was the major flat steel importer of Japan and has imported 0.34 MnT in Feb’18 inched down by 5% against 0.36 MnT in Jan’18.
Second largest flat steel importing nation from Japan was Thailand which stood at 0.34 MnT in Feb,18,down by 5% on monthly basis against 0.36 MnT in Jan’18.
Other major counties include South Korea at 0.21 MnT in Feb’18 fell by 25% against 0.28 MnT a month ago.
Fourth largest importer of flat steel is Vietnam at 0.12 MnT ,moved down significantly by 37%in Feb’18 as compared to 0.19 MnT in Jan’18.
Also Indian mills have imported 0.05 MnT of flat steel followed by Pakistan at 0.07 MnT, Bangladesh at 0.06 MnT and Malaysia at 0.07 MnT from Japan in Feb’18.
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