Japan: Billet Exports Increase 23% in October

Japan - world's one of the largest steel producer has reported surge in Billet exports by 23% M-o-M in Oct'18. However on Y-o-Y basis, Oct'18 figures down by 16%, as per recent released custom data.

Japan's Billet exports recorded at 0.32 MnT in Oct'18 increased by 23% as against 0.26 MnT in previous month. However, the exports fell by 16% in the same month as against previous year at 0.38 MnT (Oct'17).

Further, the country's total Billet exports during Jan-Oct'18 stood at around 2.8 MnT, slightly fall by 3% which was about 2.89 MnT during Jan-Oct'17.

Taiwan remains the largest importer of Japanese Billet in Jan-Oct'18 with a contribution of around 45.34% (1.42 MnT), followed by South Korea 26.17% (0.82 MnT), Thailand 13.65% (0.43 MnT) & Philippines 5.45% (0.17 MnT).

Key Updates:

--Japan crude steel output moved up by 2% to 8.56 MnT in Oct'18 as compared to 8.42 MnT in Sep'18. Meanwhile on Y-o-Y basis nation's crude steel output drop by 4.5% to 8.97 MnT in Oct'17.

--Japan's leading EAF steel mini-mill - Tokyo Steel has slashed scrap purchase prices for 8th time in Nov'18. As per new price circular released, prices reduced by JPY 500/MT (USD 4) at all five works of the company in Japan. Revised price stands at JPY 32,500/MT for Utsunomiya plant located in the Kanto region hitting almost 1 year low as similar price levels were last seen in Nov'17.

--South Korean leading steelmaker Hyundai Steel placed bids for Japanese H2 at JPY 30,500/MT, FoB Japan today.