Japan increased stainless steel exports by 10.8 percent

Stainless steel exports increased significantly in July 2014, according to the latest figures released by the Japanese Ministry of Finance. Japan's total stainless steel exports this month totaled 104,687 tonnes, up 10.8 percent from the previous month, according to the largest stainless steel producer in Russia, featured on www.zaobns.ru

South Korea was the largest destination for Japanese stainless steel exports. Exports from Japan to South Korea jumped 6.9 percent compared to exports during June this year to 23,791 tons. In second place was China with a total import volume of 18,031 tons. Stainless steel exports to China jumped 13.9 percent from a month ago. The third largest export destination was the United States. Japanese stainless steel imports totaled 6,429 tons, up 13.3 percent from the previous month.

The average export price of stainless steel from Japan in July was $ 3,623 per tonne, down nearly 6.4 percent from the previous month. During the month, Stainless Steel Exports contributed $ 379.3 million in total revenue.

Meanwhile, the country's total imports of stainless steel products amounted to 16,701 tons in July 2014. At the same time, imports during the month were higher by 0.1 percent compared to last year. Treasury data also noted that the average import price was $ 3,283, up 2.4 percent year on year.