Japan's steel exports up 8.1 percent in May

The country's steel product exports climbed 8.1 percent in May from the previous month, according to data released by Japan's Ministry of Finance (MoF). During the month, exports amounted to 3499 thousand tons, which is 4 percent lower compared to exports in the same month last year. Exports in monetary terms reached 324.8 billion Japanese yen during the month.

The export of steel by the countries in the Asian region amounted to 2,745 thousand tons, which is 7.5 percent lower compared to exports during May 2013. Export shipments in the Middle East region fell sharply by 26.3 percent for the year to 117 thousand tons. At the same time, exports to the United States rose 41 percent to 203,000 tons, while exports to the EU region rose 65.5 percent to 29,000 tons in May this year.

In addition, imports of steel products during May this year amounted to 709 thousand tons, which is 10.8 percent higher compared to the previous month. On the other hand, Japanese imports of metal products from the Asian region increased by 26.1 percent in May this year compared to the previous year and amounted to 608 thousand tons.

Imports from the United States fell 6 percent to 1.2 thousand tons, while those from the EU fell more significantly by 20.9 percent to 9.5 thousand during the month of May this year. However, the Japanese Ministry of Finance notes that total imports have held above 700 tons since October last year.