Japan: Finish Long Steel Exports Hit 1-Year High in October

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

As per the custom data, the nation has exported about 228,130 MT Finish Long steel in October 2018, increased by 31.49% against 173,489 MT in September 2018. On contrary, Y-o-Y, exports were slightly shrunk by 4% against 237,675 MT in Oct'17.

Ferrous Scrap Exports have measured down by around 7% and registered with 0.57 MnT in Oct'18 against 0.61 MnT in Sep'18 could have stretched the consumption level with improved crude steel production which is slightly up by around 2% on monthly basis could have attributed to elongate finish long exports.

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 October, Bar's & Rods have contributed the major exports proportionate and registered at 160,287 MT (+42%) followed by Angle and Shapes 59,939 MT (+12%) and remaining was Wire Rod 7,905 MT (+13%).

As per SteelMint's assessment, in October 2018 the crude steel production of the Japan registered at 8.56 MnT which is also slightly up by around 1.67% M-o-M against 8.42 MnT in Sep'18.

Country wise

In the month of October 2018, the largest importer of Finish Long Steel from Japan was South Korea - 76,910 MT (+26.58%), U.S.A at 37,928 MT (+94%) & Thailand at 26,004 MT slightly up by around 1%

Imports

Japan's Finish Long Import records 70 months high in October 2018 to 64,549 MT.

Japan's Finish long steel import stood highest since January 2013, as per recent released custom data.

As per custom, the nation has imported about 64,549 MT Finish long steel in Oct'18, increased by 62% against 39,870 MT in Sep18. Similarly on yearly comparison imports elongated by 84% and stood at 35,044 MT in Oct'17.