Steel exports and imports rose in Japan during May 2020, according to data published by the Ministry of Finance.
Exports
The country’s pig iron exports rose by 6,959mt to 89,721mt in May, compared with the same month last year, while ferroalloy and semi-finished steel exports rose by 123.8mt and 87.9 to 18,748mt and 3,00,714mt, respectively, during the same period. Finished steel exports rose 223.6mt to 2.08mn mt in May, compared with May 2019. Total exports of ferrous products stood at 2.5mn mt.
For the first five months of 2020, pig iron exported rose by 1,107mt to 1,66,901mt from January-May 2019. Exports of ferroalloys and pig iron increased by 81.9mt and 156.8mt to 69,884mt and 1.9mn mt, respectively during this period. Finished steel exports went up by 286.3mt to 12mn mt during Jan-May 2020, compared with the first five months of 2019. Total ferrous exports for the first five months stood at 14.6mn mt.
China was the largest importer of Japanese steel taking in 468,481mt of total iron and steel shipments from Japan.
Imports
Ferroalloy imports rose by 80.5mt to 106,452mt in May over the same month in 2019 while finished steel imports stood at 451,272mt up 319mt from May 2019. Total imports for May 2020 stood at 575,193mt.
For the first five months of the year, Ferroalloy exports rose by 84.6mt to 612,213mt, compared to the prior-year period while finished steel imports rose by 265mt to 2.89mn mt. Total ferrous imports stood at 3.13mn mt for Jan-May this year.
South Korea was the largest steel supplier to Japan shipping 232,524mt of the total imports to the country.