Steel imports to Japan grow for 8 months in a row amid falling exports

Japan imported 433,000 tons of various steel products in July, showing a record 20.5 percent increase in imports from the previous month.

Imports of cold rolled steel products amounted to 85,000 tons; heavy plate steel - 51,000 tons; galvanized steel products - 80,000 tons; hot rolled steel products - 163,000 tons. The growth in steel imports was driven by an increase in supplies from South Korea by 4 percent to 274,000 tons; from Taiwan by 38.4 percent to 97,000 tons; from China up 38.4 percent to 58,000 tons, all over the same period last year.

At the same time, steel imports in the country increased for eight months in a row. At the same time, the export of metal products from Japan in July decreased 8.8 percent compared to the previous month and amounted to 3,299,000 tons. In addition, exports fell 8.6 percent from the same month last year, declining for 11 straight months.

The main destination for Japanese steel exports in July was Asia, where 2,552,000 tons were shipped, a decrease of 10.5 percent from the same month last year. Of these, 469,000 tons were exported to China, which is 6.5 lower than the annual comparison. Japan's exports to the country fell below 500,000 per tonne for the first time in recent months. 121,000 tons were shipped to the countries of the Middle East. 190,000 tons were exported to the USA, which is 9.3 percent lower and for the first time in 3 months below 200,000 tons.