Japan: Billet exports drop 25% m-o-m in Jul'21 on subdued China buying

Japan registered billet exports of 0.03 million tonnes (mn t) in Jul'21, down by 25.43% m-o-m as compared to 0.04 mn t in Jun'21, data maintained with SteelMint shows. Lower exports to China and Taiwan resulted in a decline in overall volumes.

South Korea largest importer

South Korea turned out to be the largest importer of steel billets from Japan at 0.09 mn t in Jul'21, up by 6% m-o-m, outstripping Taiwan.

Taiwan came down to the second position in the top importers' list in Jul'21 with 0.08 mn t, a m-o-m decrease of 29%. Following this was Thailand with 0.06 mn t, up by 19% m-o-m.

China imported 0.03 mn t of steel billets from Japan in Jul'21 as against 0.04 mn t in Jun'21, a sharp decrease of 37% m-o-m, according to data maintained with SteelMint.

Japan's billet exports down y-o-y in Jan-Jul'21

Exports of the material from Japan stood at 1.9 mn t in Jan-Jul'21, a decline of 18% y-o-y as against 2.4 mn t in Jan-Jul'20.

Taiwan was the largest importer of steel billets with 0.70 mn t in this period, though the volumes fell by 15% y-o-y.

South Korea was the second largest importer with 0.56 mn t in Jan-Jul'21, down 13% followed by Thailand with 0.26 mn t, down 24%.

China's billet imports from Japan were recorded at 0.19 mn t in Jan-Jul'21, decreasing by 32% compared to 0.28 mn t in Jan-Jul'20.

With the news of steel production cuts in China surfacing, Chinese mills have lowered inquiries for imported billets in Aug'21 on weaker finished steel demand outlook.

On the other hand, Japanese mills have kept away from concluding billet export deals and preferred exporting rebars on strong buying inquiries from South Korea and better realisations. Notably, Japan's rebar exports were recorded at 0.14 mn t, up by 54% y-o-y.