Japan Finish Long Steel Imports Surge 9% in August

Japan, the world's 3rd largest steel producer after China & India has reported incline in its monthly long steel imports in the month of August 2018.

As per the customs, the nation has imported about 46,161 MT Finish Long steel in Aug'18, increased by 9.06% against 42,328 MT in July 2018. Similarly on Y-o-Y, imports enlarged by around 23.22% against 37,462 MT in Jul'17.

Under Finish Long steel 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).

Bar's & Rods have contributed the major imports proportionate during Aug'18 and registered at 19,787 MT (+15.3%) followed by Structure (Angle and Shapes) - 13,370 MT (+50.19%) and remaining Wire Rod 13,004 MT (-20.05%).

Country wise:

In the month of August 2018, the largest exporter of Finish Long Steel to Japan was South Korea - 22,006 MT, China - 19,832 MT & Vietnam at 1,274 MT.

Updates

-- Japan, world's third largest ferrous scrap exporter after EU-28 and US, witnessed upturn in scrap exports in Aug'18 after witnessing fall in July. The country has exported about 605,933 MT ferrous scrap in Aug'18, up 2% M-o-M as compared with 594,674 MT in Jul'18.

-- Japan's leading EAF steel mini-mill - Tokyo Steel has raised its scrap purchase prices by JPY 500/MT (USD 4) at Kyushu works, on the other hand, prices at other four of its plants in Japan (namely Tahara, Utsunomiya, Okayama, and Takamatsu Steel Centre) remained unchanged as against last set of prices. The revised prices are effective from 03rd Oct'18.

-- Malaysia may impose Anti-dumping duty on steel in case of trade circumvention. In 2017, Malaysia imported 7.6 MnT of steel with the highest imports coming from China (24%) followed by Japan (22%) and Taiwan (12%).